2003 Transactions
Tremont Arranges $20,000,000
Permanent Financing for a Home Depot Store
The
Hartford office of Tremont Realty Capital arranged financing
for the refinance of a 196,726 square foot Home Depot, located
in Greenwood Village (Denver), Colorado.
Steve Henderson, Senior Director with Tremont,
arranged the $20,000,000 loan, which was funded through
a national life company. The 10-year, non-recourse loan
provided for roughly 100% loan to value with a fixed 4.28%
interest rate. The borrower, a leading national retail REIT,
was able to lock their interest rate at application for
sixty days at no cost. Tremont negotiated a spread of 90
basis points over the 10-year treasury along with no loan
or legal fees to the borrower. According to Mr. Henderson,
"Our client was extremely pleased with the level of
proceeds provided, which exceeded their purchase price.
Additionally, they were pleased with to have locked-in such
a low interest rate at as early as the application stage
of the loan process."
For additional information on this transaction,
please contact:
Stephen Henderson
Senior Director
Email: shenderson@tremontcapital.com
Phone: 860.548.9289
