CTL Capital recently closed a loan secured by a NN / modified gross lease to Allina Health Systems for their 400SF+ headquarters located in Minneapolis, MN. The mortgage-backed CTL loan was structured with a large balloon balance and accounted for … Continue reading →
CTL Capital recently refinanced a shopping center in North Haven, CT by leveraging a Ahold Delhaize (Stop & Shop) guarantee on lease payments to provide a $9,000,000 loan to the borrower. Continue reading →
CTL Capital closed a loan of 94% LTV utilizing a A1/A2 structure for a property leased by Home Depot. The bifurcated structure included a residual A2 tranche to allow the borrower to achieve significant leverage on the property. Additionally, CTL … Continue reading →
- CTL provided a $59,500,000 permanent loan to the borrower backed by a lease to Xerox Corporation of an office/research facility within Stanford Research Park with 10 years remaining (out of an original 30 year term).
- The lease was a NNN lease which allowed CTL Capital to achieve a 1.00x debt coverage on the loan.
- The lease was coterminous with an underlying ground lease.
- CTL Securities structured and placed lease-backed secured notes backed by the rental income in the private placement bond market to institutional investors.
- CTL Capital provided long term financing in the form of a credit tenant loan for a newly occupied global corporate headquarters for General Reinsurance.
- The 310,000 SF facility contains all requisite facilities typical to a corporate headquarters including computer centers, cafeteria, fitness center, etc. and houses personnel from Gen Re’s Client Solutions, Group and Specialty, Individual, Operations, and Executive departments along with Gen Re’s Intermediaries Corporation.
- CTL was able to structure around a tenant termination option and other lease exposures and to maximize the present value of the lease payments. The bond financing was structured and sold in multiple tranches to take advantage of the yield curve.
- CTL loan was provided for the construction and long term financing of a to-be-built office, administrative and laboratory facility for Yale New Haven Hospital’s medical complex.
- The building is connected via tunnel and skybridge to the new 14-story Yale New Haven Smilow Cancer Center.
- The facility houses program uses including four floors of clinical lab space, blood bank, pharmacy, primary loading bay, administrative offices, auditorium space, and ground floor retail space.
- CTL Capital worked closely with the developer and senior officials from Yale New Haven Hospital to structure the lease agreement.
- The transaction structure included construction period financing without additional cost or premium.
Credit Tenant Lease Financing for Walmart in CA
CTL Capital provided a $24,000,000 CTL loan for a 100k+ SF Walmart located in California with a lease guaranteed by WalMart Stores, Inc. The CTL loan included a residual portion that was a substantial portion of the total loan, highlighting the prime location and value of the underlying real estate.