Transaction Overview Compass Commercial Mortgage, Inc. (“Compass”), the exclusive commercial real estate financing consultant for…
Domenic’s & Vinnie’s
Transaction Overview
Compass Commercial Mortgage, Inc. (“Compass”), the exclusive commercial real estate financing consultant for Domenic’s & Vinnie’s (“D&V”), has successfully closed on the $1,125,000 financing of a free-standing restaurant building located in Royal Palm Beach, Florida. The building was constructed in 1986 and contains approximately 2,590 ± SF. The property is currently undergoing renovations and will be occupied by Domenic’s & Vinnie’s Pizza upon completion.
Compass Role
Compass assisted D&V by proactively managing the loan process and negotiating superior loan terms which accomplished all of the following objectives (i) provided competitive owner-occupied financing for a quasi-start-up restaurant allowing the principals to recapture a large portion of their upfront investment, (ii) secured interest only payments during the first 12 month renovation period, (iii) negotiated a competitive 5-year fixed interest rate, and (iv) negotiated a competitive declining prepayment penalty allowing the Borrower to refinance should interest rates decline.
Domenic’s & Vinnie’s
Founded in Waterbury, Connecticut in 1993, Domenic’s and Vinnie’s has three (3) Connecticut locations. D&V’s are bringing their Italian cuisine to South Florida and will serve a full menu of Italian cuisine, including hand-tossed pizzas, fresh pasta dishes, sandwiches, appetizers, and a full-service bar. Domenic’s and Vinnie’s only serve fresh, locally sourced Italian cuisine made daily in-house.
About Compass
Compass is a full-service boutique commercial mortgage brokerage operating for Borrowers since 1996 and specializing in the professional underwriting, packaging, negotiation, and placement of commercial real estate debt throughout the State of Florida and nationwide. We believe commercial real estate finance to be an active process. We remain fully engaged in each transaction from the first conversation to the loan closing. It is specifically this attention to detail that leads to superior outcomes for our clients, including better loan terms and structure, rapid execution, lower interest rates, and reduced closing costs.
