CTL Capital recently closed a $245,000,000 construction-permanent non-recourse credit tenant lease loan. Proceeds, representing 100% of project costs, will be used to construct a 575,000 SF agency headquarters facility. The CTL loan will be secured by the building and a … Continue reading →
CTL Capital provided a $252,000,000 credit lease-backed loan for a building to be renovated and occupied by the City of Philadelphia for use as a new headquarters for the City’s Police and Fire Departments. The City of Philadelphia is the … Continue reading →
CTL Capital recently closed on a credit lease loan of $16,000,000 for acquisition financing of a cross collateralized pool of 4 stores leased to CVS Health. The CTL loan was a classic ‘credit tenant lease’ financing, backed by absolute net, … 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.
CTL Capital Refinances Loan on Retail Shopping Center backed by AHOLD
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. The long term, fixed rate financing was structured using a 1.0x debt coverage, leveraging the bond-type NNN nature of the lease to maximize the loan value.