Just Closed: $2.4M Conventional Loan for Daycare Property
Liberty SBF closed a $2.4 million conventional loan in January on an 11,073 square foot daycare center in Mesquite, TX. The loan will provide funds for the acquisition of the property, which comprises one 8,928 square foot building and one 2,145 square foot building. Originally built in 2000, the property was expanded in 2004 and 2013 and features multiple classrooms, offices, kitchen and break area with pantry, storage, laundry facilities, numerous restrooms, and an indoor multi-purpose room.
Established in 2000, the private daycare center provides early academic development for children from infancy to kindergarten. The business has shown rapid revenue growth over the last 3 years; although the center took a hit in 2020 due to COVID-related closures, the business bounced back in 2021 and is on track for an increasing revenue trajectory.
Situated on a main thoroughfare with superior exposure, the property’s prime location contributed to an as-is valuation of $3.52 million. The Dallas MSA’s demographic trends will continue to drive growth in the market, allowing the property valuation to increase over the next few years.
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