See what’s possible when capital gets creative.
How we secured financing for a single-tenant NNN warehouse when tenant financials were MIA.
- Property Type: Single-tenant warehouse facility
- Location: Robinsonville, North Carolina (tertiary market)
- Purchase Price: $10.2MM
- Loan Amount: $7.1MM (70% LTV)
- Square Footage: 250,000
Securing financing for a single-tenant, 250,000-square-foot warehouse in a tertiary market was already a tall order, but the lack of tenant financials made the deal even more complex. With single-tenant warehouses, tenant financials are a cornerstone of underwriting, and in tertiary markets, they make or break the deal. Without financials, this was the type of challenge most lenders would pass on without a second look.
To address these challenges, we structured the narrative to focus on the tenant’s operational history and market presence. By conducting a thorough analysis, we were able to highlight the tenant’s strengths and build confidence in the property’s viability.
Additionally, we showcased the borrower’s extensive real estate experience, emphasizing their proven track record of managing and executing similar deals. This positioned the project as a well-supported and calculated opportunity.
This wasn’t just about preparing a package — it was about telling a cohesive story that preemptively addressed lender concerns. The goal wasn’t to ask lenders to lower their standards but to demonstrate why they could trust ours.
Through this strategic approach, we connected with multiple lenders and ultimately found a credit union that aligned with the deal’s vision. Beyond securing the $7.1MM financing package at 70% LTV, we helped establish a strong relationship between the borrower and the lender, laying the groundwork for future opportunities.
Credit unions can be a strategic fit for deals that fall outside the scope of traditional lenders.
Building strong relationships with alternative lenders opens doors that traditional institutions might overlook.
A solid narrative, backed by detailed analysis and a deep understanding of the deal, can overcome seemingly insurmountable challenges.
Client Take
“I had a wonderful experience with Drew Capital. Their approach is aggressive and they’re on top of their game. Some brokers have their two go-to lenders, but Drew works on a lot of options, fights on the rates, keeps negotiating, and doesn’t give up. They’ll attend appraisals, even out of state, and are a one-stop-shop, making sure every aspect of the process is taken care of."
A. Schwartz, Client
545 East County Line Rd, Suite 18, Lakewood NJ 08701
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