AT&T Wireless Credit (Yellow Pages Division)

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LTV (Loan to Value)	0.00%	Current NOI
Interest Rate	0.000%	Cap Rate	0.000%
Fixed Term	+/- 2 Years Years	Land Area
Amortization	Years	Lease Type
Loan Amount		Property Type
Payment		Property Lease
Building Size		Remaining Terms

Location Description

The City of Dallas is a major city in North Texas and, with Fort Worth, makes up the fourth most populous metropolitan area in the United States. Dallas is the ninth most populated city in the U.S. and the third in Texas after Houston and San Antonio. The bulk of the city is in Dallas County, of which it is the county seat, while sections of the city are located in Collin, Denton, Kaufman, and Rockwall counties. Dallas, along with the rest of Texas, has seen increasing population. According to the 2010 United States Census, Dallas had a population of 1,197,816 which increased to 1,257,676 as of 2013.

Highlights

Tenant Credit - AT&T Services Inc. is a subsidiary of AT&T Inc. AT&T Inc. holds an A-/Stable credit rating from Standard & Poor’s. AT&T had FY2014 (ended December 31, 2014) revenue of $132.447 billion and net income of $6.224 billion. As of March 17, 2015, AT&T had a market capitalization of $170.76 billion.Well Maintained Property in Major, High Growth Market – The Property is attractive and well-maintained. It is comprised of two, adjacent buildings that are located in the high growth market of Dallas, Texas. The Property has strong surrounding area demographics and is located within the Stemmons Corridor business districts.Stemmons Corridor Location – The Property is located in the Stemmons Corridor or Lower Stemmons stretch of industrial and commercial property in northwest Dallas. The Stemmons Corrior stretches from downtown, north along Interstate-35 and boasts over 4,700 businesses, proximity to Love Field, the Dallas Central Business District, and Dallas Love Field Airport, as well as accessibility via the interstate as well as the Dallas Area Rapid Transit (DART) system.Replaceable Rent with Annual Rental Increases – At $7.62 PSF, AT&T’s rent is replaceable. Additionally, the existing lease has rental escalations of 1.50% annually throughout the base lease term and two, five year option periods.Limited Landlord Responsibilities – The Property features limited landlord responsibilities of maintenance, repair and replacement of the Property’s roof and structure, as well as capital expenditures for the remainder of the base lease term and all option periods.Proximity to AT&T Corporate Headquarters - The Property is located approximately 6.9 miles along Interstate-35 from AT&T’s Corporate Headquarters in downtown Dallas.State Income Tax Free – The State of Texas has no state income tax, as well as no state estate or inheritance taxes.

NNN Loans Funding

Triple-Net Lease Financing arranged by NNNLenders. Offering Triple Net NNN Property Loans.