1899 Mendocino Avenue
Santa Rosa, CA
- 12,549 SF of Retail Space adjacent to the Santa Rosa Junior College and located on one of Santa Rosa’s main retail arteries
- Absolute Net Lease Agreement with Minimal Landlord Responsibilities and Lease through 2027 (which any Single Tenant Net Lease Deal with under Ten Years of Term presents a challenge for many Buyers and Lenders)
- Tenant has been in business since 1975, and operated in this location since 1987, but only has two locations which also proposed a challenge on the sale
- SVN | True Real Estate represented the Seller, Buyer, and assisted the Buyer with placing debt on the Property.
- The Appraisal came in almost a Million Dollars under the contracted Purchase Price. SVN | True Real Estate Partners was able to negotiate an “earn out” in year two of the loan that will allow the Borrower to obtain the leverage it was seeking based on the Property's Performance.
- SVN | True Real Estate Partners sourced multiple offers that resulted in a Purchase Price that was higher than what the Seller’s agreed upon in the Listing Agreement.
- SVN | True Real Estate Partners was able to save the deal by structuring a unique financing structure that both the Bank and Borrower agreed to while still being a low cost loan
- SVN | True Real Estate Partners was retained by the Buyer to Manage the property making it a true “mail box money” Asset for New Ownership
- SVN | True Real Estate Partners navigated a successful sale with an Selling Group that consisted of over 10 individual investors