InfoUSA’s Papillion Call Center is a 171,000SF single-story building which was built in 1988, expanded in 2007 and is situated on 27.3 acres. The property is located in Papillon, Nebraska, a suburb of Omaha and was originally constructed by InfoUSA. Simultaneously with this loan, Suburban also provided financing for InfoUSA’s primary call center located in Papillion, Nebraska. In order to facilitate the financing, InfoUSA entered into a sale leaseback structure, whereby InfoUSA transferred both properties to newly-formed entities that are wholly owned by InfoUSA. InfoUSA then entered into long-term lease agreements with these subsidiaries for the continued and sole use of the properties with the parent company serving as the guarantor of the debt under the carve out guaranty. The proceeds of these two loans were used to retire the existing debt of approximately $12,800,000 with the balance of $26,700,000 applied to reduce the amounts outstanding under the company’s revolving credit facility.

Suburban provided a first mortgage loan for the borrower to finance the property. The loan was a fixed-rate mortgage having a 10-year maturity with a 30-year amortization, and was priced at a fixed interest rate spread over the 10-Year U.S. Treasury Bond Index. The first five years of the loan were interest only.