This was the last purchase of 5 NNN properties we were engaged to handle for borrowers who were in a 1031 exchange.
All five transactions went to the same lender because we really needed to cut down the processing and underwriting time frames. However, the lender ended up becoming back logged on these deals and unfortunately lead to some frustration.
As the borrower's exchange drop dead dates were approaching ALB was able to persuade the lender to issue the last three commitment letters all at the same time, and prepare docs at the same time. Needless to say, at the end of the transaction things became a bit tense on all sides, but we worked through with the agents, the borrowers, lender and the affiliates and the deal was closed. It wasn't a large transaction but what a big relief to have this deal finally closed.