UnitedHealthcare Services, Inc.
Frederick, MD
$25,500,000
94% of acquisition cost CTL Private Placement Bond financing.
- 1960s vintage office/warehouse fully leased for 7 years, but only partially occupied
- Substantial market vacancy
- Unrated tenant without a parent company lease guaranty
- Short 1031 Exchange deadline
- Uninsured balloon ($40/sf) resulted in a 94% loan-to-purchase price
- Partial prepayments allowed
