Envoy president, Ralph Cram, predicts “interesting times” ahead for the 2019 net lease market.

Envoy president Ralph N. Cram consulted his personal crystal ball over the holiday break and his orbuculum-gazing told him that there are "interesting times" ahead for the net lease market.

Up first in the forecast are the repercussions expected to be felt from rising interest rates. “This is the year interest rates really start to matter for developers and buyers,” Mr. Cram predicts. “For developers, construction loan proceeds are likely to be pinched as loan rates begin to approach the rent constants used to underwrite their deals, and debt service coverage ratio limitations kick in.”

Likewise, some pain may be in store for those on the opposing side of the equation. “In the acquisition world,” Mr. Cram’s quartz sphere tells him that “buyers are going to have to accept lower returns on equity as interest rate costs increase,” an unattractive outlook to be sure, with the only defensive option for buyers being to opt out of participating in the market altogether.

For the full forecast, CLICK HERE.


Envoy launches "Reversible" Sale/Leaseback program offering short-term repurchase options.

Envoy Net Lease Partners today announced that it has launched a new "reversible" sale/leaseback program that offers more flexibility than typical sale/leaseback formats to companies seeking to free up capital trapped in their real estate.

“This is a great alternative for companies that are going through transitions or need time to set up long-term financing,” said Ralph N. Cram, president of Envoy, who noted that the new program is unlike traditional sale/leaseback deals in which an owner sells a property and leases it back for what is usually a 15- to 20-year lease period.

Read the full press release here.

Among other things, Envoy's flexible S/L financing option offers owners of industrial, medical office, retail and special-purpose properties short-term purchase options, partial leasebacks and short-term transitional lease terms that have previously been unavailable.

“Many companies avoid sale/leasebacks due to the need to sign long-term leases without any future flexibility,” Cram said. "The short-term flexibility makes (the program) unique, especially among sale/leaseback providers focused on smaller properties.”

Envoy recently closed its first transaction under the program with a $2.3 million acquisition of a 92,750 square-foot industrial property from FirstCharge Energy, a battery manufacturer for heavy machinery serving the transportation, wind and solar power, and marine industries.

A key provision in the lease gives FirstCharge the right to repurchase the property within the first two years of the lease.

News of Envoy’s new S/L program as it appeared on the   MarketWatch site  .

News of Envoy’s new S/L program as it appeared on the MarketWatch site.

Envoy featured guest at InterFace Healthcare Real Estate conference.

Envoy is pleased to have taken part, as a Silver Sponsor, in the 8th annual InterFace Healthcare Real Estate Southeast conference last month in Nashville, where a gathering of leading real estate professionals and healthcare system executives came together to discuss how changes in the healthcare industry are impacting real estate usage and strategies.

Ralph Cram, president of Envoy, was a featured speaker at the event. Mr Cram, an expert on net lease financing and investment, and a frequent guest at industry conferences worldwide, participated in a roundtable discussion on current trends in medical care in retail environments, and was a panelist in a breakout session on capital markets — offering his views on the outlook for debt financing in the coming year.

Envoy, which finances the development of micro-hospitals and clinics throughout the U.S., now provides JV equity and high leverage construction financing of smaller medical-related NNN projects, typically under $10 million. To learn more about Envoy's latest financing programs for medical BTS projects, click here


Envoy seeks VP Finance / Controller.

UPDATE: This position has been filled as of February 2018.

Envoy Net Lease Partners is seeking a senior-level member to join our small but rapidly growing team. This person will be responsible for accounting and cash management as well as assist with the financing activities of the company.

Envoy Net Lease Partners is one of the fastest growing private lenders in the real estate net lease industry, a $4 trillion market. Envoy provides high leverage construction and bridge loans – up to 100% LTC – and JV equity to developers of net lease properties nationwide. Over the next several years, Envoy will significantly grow its lending platform.

We are looking for a hands-on individual, comfortable working in a small company environment, that is looking for an opportunity to manage their own destiny. This person will report directly to the President and Managing Agent of the company and will be the informational point person to our investors and lenders.

This individual will manage the following (but not limited to):

Company-wide cash management including bank wires and escrow fundings • Investor relations including financial reporting, dividend payments, K-1s and waterfall profit distributions • Monthly, quarterly and annual financial reporting requirements • Create budgets, cash flow projections and compare budgets to actuals • Human resource matters related to payroll and employee benefits • Manage the credit facility audit process, draws and compliance issues • Track interest, fee payments, accounts payable and receivables • Compliance requirements regarding various JV agreements.

Successful candidates will have:

Knowledge of commercial real estate and mortgage lending is required • Working knowledge of joint venture structures and credit facilities is a plus • Prior experience as Senior Fund Accountant or Assistant controller is a plus • Debt fund and private equity industry experience • Experience working with lenders and passive ownership vehicles • CPA or Degree in Finance or Accounting is preferred • Experience in a small company environment • A “whatever it takes” attitude • Strong Word, Excel and accounting software skills.

Compensation in the form of a base salary and benefits, with an opportunity for a year-end bonus and possible future profit participation.

Envoy’s office is located in downtown Northbrook, Illinois, next to the Milwaukee North train station. For more information visit our website at www.envoynnn.com.

To apply, please email an introduction and resume to info@envoynnn.com.

While we sincerely appreciate all applications, only those candidates selected for an interview will be contacted.

For a faster and less restrictive financing option, consider private-equity debt.

Private-equity debt, now on the rise as a new financing alternative to traditional lending sources, is quickly becoming a smart option for developers looking to close deals quickly -- and avoid the red tape typical of the approval and underwriting processes of banks.

This new financing option fills a need for developers in special-case situations such as value-add properties, lesser credit, secondary locations, less-than-perfect borrowers and other factors often deemed undesirable by traditional lenders.

To learn more about this financing option, read the Envoy article that appears in the August issue of the Scotsman Guide Commercial Edition.

Or read the article here in its entirety.

100% LTC ground lease loan for Wendy's is Envoy's most recent transaction.

Envoy is pleased to announce a 100% LTC ground lease acquisition and development loan for international fast food restaurant chain Wendy's. The new restaurant, a single-tenant building in Streetsboro, Ohio, is about a half hour south of Cleveland.

To learn more about Envoy's various financing programs -- including ground lease, construction, bridge loan and JV equity programs -- just click.

Congrats, the tenant wants your site. Now how do you plan to finance it?

No worries. Envoy's got your back.

When it comes to net lease financing, Envoy Net Lease Partners is the developer's go-to capital source. In the past 24 months, Envoy has closed more than two dozen deals involving $70 million of capital -- providing up to 100% financing.

Envoy provides capital through various financing programs (click links to learn more):

Ground Lease A&D Loans, up to 100% financing; Construction Loans, up to 95% loan-to-cost financing; and JV Equity, up to 95% equity financing for build-to-suit net lease transactions. See program details, videos and more at envoynnn.com.