Small to Large Balance Credit Tenant Lease (CTL) Execution

• Loan Amount: $3mm + (no maximum)
  
  
• Term: 15 years + (assuming loan term will match firm term of NNN lease)
  
  
• Credit Tenant: BBB+ or stronger (lender suggests Lowes and Home Depot leased properties as typical of these credit ratings)
  
  
• Pricing: Currently fixed in the mid to upper 5's for a 20 year term (assuming a 20 year lease)
  
  
• Debt Service Coverage: 1.01x to 1.05x (depends on whether or not lease is "absolute" NNN)
  
  
• LTV: Up to 100%. Loan advance is restricted by debt service coverage.
  
  
• Recourse: None, excepting carve outs
  
  
• Geography: Anywhere in U.S. including secondary or possibly tertiary locations

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