A building leased to a government body is an unusually strong credit with an unusually awkward lease. Nobody worries about whether the rent arrives; the work is in reading a lease that was written to protect the tenant and to be cancellable.
What the file turns on
The firm term versus any soft or cancellable term, appropriation and termination-for-convenience language, who pays for build-out and operating expenses, and the renewal history of that specific tenant in that specific building.
Where deals fail
Pricing a soft term as though it were firm, a single-tenant special-purpose building with no civilian backfill, and improvement obligations the landlord has to fund before rent steps up.
Renewal history is the best evidence
An agency that has occupied the same building through multiple terms is telling you something no credit rating does.
Our minimum loan is $200,000. We are a direct commercial lender working across the 43 states we serve, in business since 1998. We do not publish a rate for this product because the number depends on the file — call and we will quote the deal in front of us.
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