Seattle Funding Group provided construction financing for this repeat client for purposes of building a Starbucks shell in San Marcos, a community in North County San Diego. Having first financed this sponsor back in Spring of 2019, SFG has provided subsequent loans to him both in CA and in AZ, the latter through our Scottsdale branch. SFG strives to develop long-term, repeat relationships with our clients. We regularly achieve this objective by a combination of deal certainty, highly competitive pricing, responsive closing times, and in the case of construction loans, with a superlative in-house construction department built to expertly and expeditiously handle the Fund Control and Draw processes for projects we’ve financed throughout The West.
As is so often the case in the current environment, the grading permits for this terrific project were greatly delayed and bogged down in the picayune bureaucracy that dominates today’s City and County permitting processes. But for those who endeavor to persevere, once built, these Net Lease assets continue to command exceedingly low CAP rates, thereby continuing to achieve very high sale prices. True to form, once permits were approved and in-hand for this Single-Tenant Net lease project, SFG closed within a couple of days.
SFG’s consistent performance and competitive pricing have allowed us to finance Net Leased assets throughout The West, including projects involving Starbucks, AM/PM, Boston Market, KFC, Dunkin Donuts, and many other fast food franchises and light automotive uses. Keep SFG in mind when deal certainty and responsiveness suggest a sensibly priced, private money solution…Capital at The Speed of Business.