Although not great for the size of my stomach, QSRs are popping up in markets all over the country and at a fast rate. NNN projects have accounted for about 20% of the commercial real estate lending that we’ve done over the last few years. As Sade mentions, investors will look for credit tenants first and foremost, but we’ve provided commercial real estate mortgages for many non-credit tenants as well. Many of our developer clients are asking us to find them non bank commercial real estate lenders that will finance 100% of the capital stack including pursuit costs, and we’ve been successful in finding them that capital.
– Adam Horowitz, Principal of Lever Capital Partners and President of the Real Estate Capital Alliance