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Updated almost 5 years ago,
Refinancing a NNN building
A C corp I own owns a NNN lease with 7.6 years remaining to a regional dental provider. It is fully paid off building located in Detroit area, generating about 140k/yr net. I was thinking of refinancing and pulling some cash out as downpayment for another property.
What are the profile of banks/unions I should approach? What is the expected rate and how much of the building price would they refinance for? Thank you in advance.