Radar Capital Partners is pleased to announce it has provided a $2.3 million construction loan to an Arizona-based real estate group for the development of a Raising Cane’s Chicken Fingers property in Phoenix, AZ. Construction on the 3,550-square-foot project has now commenced and is anticipated to complete in summer 2021. This represents the second Raising Cane’s project that Radar has financed in the Phoenix market as the tenant continues to expand within the region.
“Quick service restaurants (QSRs) like Raising Cane’s are thriving in high growth markets like Phoenix as they provide customers with quality food and convenient ways to get it via drive-thrus, delivery, pick-up and app-based ordering,” said Radar Capital Partners Co-Founder and Managing Principal Kevin Marusiak. “In addition to QSRs, other essential businesses such as grocery, medical, dollar and convenience stores are poised to remain the most active for new developments throughout 2021.”
Providing up to 100 percent loan-to-cost financing for build-to-suit, ground lease, and redevelopment projects, Scottsdale-based Radar Capital Partners was founded in 2019 to act as a single source of capital for net lease developers across the country. The company is led by Co-Founders and Managing Principals Travis Fidel and Kevin Marusiak, who together have over $750 million of net lease transaction experience. Radar has successfully funded over a dozen construction loans in recent months to projects leased to tenants such as AutoZone, Chipotle, Dutch Bros, and Starbucks.
“As Radar has grown and the demand continues to elevate for net lease construction financing, we anticipate our lending activity will more than triple this year,” noted Fidel. “In addition to our home state of Arizona, we have funded projects in Texas, California, Nevada, and have been expanding our geographic footprint to other key markets. Developers are recognizing the value of being aligned with a reliable, collaborative capital partner that has the capacity to fund large development pipelines.”