Envoy announces the formation of a new joint venture with a global private equity firm with more than $10 billion in assets under management. With the new JV, Envoy can now finance large development pipelines of single-tenant net lease properties up to 100% loan to cost. Click here for full release.
Ralph Cram, a member of the prestigious Counselors of Real Estate, shares the group’s Top 10 issues affecting real estate. The 2019/2020 list is led by concerns about infrastructure, housing, and weather and climate-related risks. Click here for full release.
Envoy expands management team after year of growth, adding Eric Spokas as Chief Operating Officer. Banking and real estate veteran Spokas was previously President and CEO of SomerCor, a Top-25 nationally ranked Certified Development Company (CDC) in Chicago. Click here for full release.
Envoy closes sale/leaseback of 38,000 SF industrial property for largest minority-owned flooring contractor in Chicago. The transaction represents Envoy’s entry into the prime O’Hare industrial market and ongoing push to offer both traditional and “reversible” sale/leaseback options. Click here for full release.
Envoy collaborates with International Council of Shopping Centers (ICSC) to launch first-ever Health & Wellness Pavilion at this year’s RECon, the nation’s largest shopping center industry convention held each May, to respond to fast-growing “medical retail” trend. Click here for full release.
Envoy president Ralph Cram consults crystal ball, forecasts “interesting times” for the 2019 net lease market. Envoy president Ralph Cram consulted his crystal ball over the holidays and his orbuculum-gazing tells him "interesting times" are ahead for the net lease market. Click here for full release.
Envoy launches new “reversible” sale/leaseback program offering short-term re-purchase options. Envoy recently closed its first transaction under the program with a $2.3 million acquisition of an industrial property from FirstCharge Energy. A key provision in the lease gives FirstCharge the right to repurchase the property within the first two years of the lease. Click here for full release.
Envoy finances Wendy's restaurant in Akron metro for $1 million-plus. Envoy closed on a 100% loan-to-cost corporate ground lease loan for a 2,565-square-foot freestanding Wendy's in Streetsboro, Ohio. Envoy financed 100% of the total cost of the project. The transaction marked the ninth loan with the same borrower. Click here for full release.
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 American Mattress store in 5th deal with repeat client. Envoy closed on a 95 percent LTC construction loan for a single-tenant, net lease American Mattress retail outlet in Greenwood, IN. The deal marks Envoy’s fifth construction loan with the same client, Thomas English Retail Real Estate, a real estate investment and development firm based in Indianapolis. 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 here 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 here 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 here 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 here 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 here 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 here for full release.