Envoy expands management team after record year. Envoy added two executives to its team in Northbrook, Illinois, effective immediately. Stephen Counts, Vice President, joins Envoy from CBRE Capital Markets in Atlanta. Laura Mitchell, Vice President-Operations, comes from Q Investments and Triple Net Financial in Fort Worth. Click here for full release.
Envoy finances CVS Pharmacy in Merced, Calif. for $4.5 million. Envoy closed on a 100% loan-to-cost ground lease acquisition and development loan for 95,000-acre land site that will be developed into a CVS Pharmacy drug store facility in Merced, Calif. In the past 24 months, Envoy has closed more than two dozen transactions in the U.S. involving $70 million of capital. Click here for full release.
Envoy finances vacant Denny's through new restaurant development loan program. Envoy closed on the first mortgage bridge loan, for a single-tenant, net lease 5,500-square-foot Denny’s restaurant in Northern California, in 26 days. The property is located on an outparcel in front of the highest- grossing grocery store in Auburn, and is one of the last remaining outparcel sites in this market. Click here for full release.
Envoy launches new program that provides up to 100% financing for ground lease development transactions. The program, the first of its kind, offers 100% financing of land and construction costs for developers, retail and restaurant companies involved in ground lease developments, up to $4 million per property. Click PDF for full release.
Envoy provides $4.5MM construction loan to finance Goodwill retail store in Henderson, Nev. The new store is the first to be funded under a multi-property construction loan facility that will be used to upgrade Goodwill of Southern Nevada's retail store base throughout the Las Vegas metro area. Click PDF for full release.
Envoy finances Walgreens store in Chicago through new bridge loan program. The transaction was the first to be completed under the innovative program, which offers investors 85% loan-to-purchase price financing for short-term situations such as re-tenanting vacant buildings, net lease property acquisitions with lease extension opportunities, sale/leaseback transactions and more. Click PDF for full release.
Envoy finances American Mattress store in Fort Wayne, Ind.; third transaction under new construction loan program. Envoy financed a first mortgage construction loan that allowed an American Mattress developer to secure 94% loan-to-cost financing while maintaining 100% ownership of properties throughout the development process. Cick PDF for full release.
Envoy finances FedEx package facility near Vail, Colo. for $2MM+ through construction loan program. The FedEx preferred developer secured 95% loan-to-cost financing under a program designed to provide net lease developers with the additional capital they need to increase the size of their pipeline and meet tenant construction schedules. Click PDF for full release.
Envoy finances retail center in Pittsburgh for $3.4MM through new construction loan program.. The transaction allowed a Select Comfort preferred developer to achieve 94% loan-to-cost financing. The program was created to help developers secure up to 95% LTC financing for their pipeline of net lease development properties without the hassles associated with JV agreements or mezzanine loan documentation. Click PDF for full release.