Houston, Texas - Net Lease Properties has information on the refinancing of a retail center. A Commercial Mortgage was arranged for $4.8 million which will be secured by the Walgreen’s-anchored retail center. The terms of this commercial loan are a 15-year, fixed-rate commercial loan. the capital came through a Life Insurance Company. The commercial property financing retired a maturing "Commercial Backed Mortgage Securities" CMBS loan.
This net lease property is a 26,355-square-foot building, a Walgreen’s-anchored retail center. This commercial property is fully leased to four tenants, Walgreen's, MW Cleaners, Blockbuster and Smashburger. The commercial property was completed in 1998 and located in the West University area of Houston.
A more specific location of the net lease property is at 5220 - 5280 Buffalo Speedway. The West University Corner is situated at the intersection of Bissonnet Street and Buffalo Speedway close to Greenway Plaza, US 59 and Rice University in the Houston neighborhood.
There are plenty of benefits of Net Lease Investments in using a 1031 tax exchange. Unlike other investments, commercial real estate is a great tax saver and helps you defer capital gains tax by using the 1031 exchange.
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