Haverhrhill, MA – Sidney Spiegel, vice president of NE Moves Mortgage, Commercial Division, arranged a $4.854 million purchase loan for Haverhill Real Estate, LLC. The loan was funded by a major regional bank.
The funds will be used to purchase the property art 150 Lafayette Sq. with a long term lease in place to CVS. The CVS was enhanced by a triple–net lease that extends for another 23 years with increases in the cash flow every 5 years.
According to Spiegel, the lender was aware of the creditworthiness of the tenant and was able to provide the borrower with a 20 year self liquidating note at 5.5%. The lender also realized the value of stabilized real estate as a viable option for investors in this otherwise unsettled real estate environment.
Spiegel Arranges $4.854m Loan – NE Moves Mortgage Purchase Loan
Haverhrhill, MA – Sidney Spiegel, vice president of NE Moves Mortgage, Commercial Division, arranged a $4.854 million purchase loan for Haverhill Real Estate, LLC.