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NNN Finance

NNN Finance Program

Your NNN Finance Partner

Our NNN Finance Program specializes in the nationwide financing of single-tenant net lease properties, focusing primarily on national brand, investment grade retail tenants.  We offer full, partial and select non-recourse loans between $500,000 and $10.0 million, with terms up to 10 years and/or coterminous with the underlying leases, and short-term prepayment penalties. The NNN Finance Team is comprised of knowledgeable, seasoned, and experienced professionals.  The Program and the Team operate under the following six tenets.

Commitment to Excellence:

We provide a best-in-the-industry experience to our clients and referral partners that is unrivaled by our competitors. 

Certainty of Execution:

We have never missed a PSA or 1031 exchange deadline and have never re-traded an accepted letter of interest.

Market Knowledge:

Our team includes six fully dedicated professionals, all of which are degreed and represent a combined 91 total years in banking and 57 total years with the Program.

Speed of Service:

Our underwriting, approval, and closing process is standardized for a quick, efficient and easy closing, including less than 30 days from the acceptance of a letter of interest.

Proven Results:

We have closed over 655 loans totaling greater than $1.1 billion and no loan in our portfolio has ever experienced a 30-day or greater delinquency.

Trustworthy:

We are authentic, driven, and collaborative.  We deliver timely and under the terms agreed.

We offer a variety of customized financing options to meet our clients’ needs. We exceed expectations with our underwriting and closing process. We deliver timely and under the terms agreed. We never miss deadlines. We appreciate you!

  • Finance nationwide single-tenant properties
  • Focus on retail, office and medical spaces
  • Loan amounts ranging from $500,000 to $10.0 million
  • Loan terms up to 10 years and/or coterminous with lease
  • Amortization periods up to 30 years
  • Loan-to-value up to 65%
  • Debt Service Coverage Ratio at 1.20x and greater
  • Full, partial, and select non-recourse
  • Short-term prepayment penalties
  • 60-day rate lock (no fee)
  • Stand by the terms issued in Letters of Interest
  • Efficient underwriting and closing process
  • Exceptionally quick decisioning, approval and closing
  • Never miss a PSA or 1031 exchange deadline

The Program has closed over 665 loans totaling over $1.1 billion since inception in 2013. Below are select successful transactions with our NNN Finance Partners:

  • 7-Eleven | Auburn, WA | $2,725,000
  • Advance Auto Parts | Rockwall, TX | $1,641,000
  • Aldi | Hesperia, CA | $2,090,500
  • Bank of America | Centennial, CO | $1,270,000
  • Chick-fil-A | Norfolk, VA | $1,661,000
  • Chipotle Mexican Grill | Hendersonville, TN | $1,085,000
  • CVS | Columbus, IN | $3,061,792
  • Dollar General | Willoughby, OH | $829,500
  • Firestone | Southaven, MS | $1,000,000
  • In-N-Out Burger | San Diego, CA | $2,500,000
  • Panera Bread | Mesa, AZ | $1,700,000
  • Sherwin-Williams | Poughkeepsie, NY | $950,000
  • Starbucks | Lincoln, NE | $1,395,000
  • Tractor Supply Co. | Erie, PA | $1,500,000
  • Walgreens | Miami, FL | $2,000,000
  • Walmart | Albany, GA | $5,279,500
  • Wawa | Orange Park, FL | $3,157,895

Select preferred tenants for the Program include, but are not limited to, the following:

  • 7-Eleven
  • Advance Auto Parts
  • Aldi
  • Amazon
  • Arby’s
  • AutoZone
  • Bank of America
  • Bridgestone
  • Buffalo Wild Wings
  • Caliber Collision
  • Chase Bank
  • Chick-fil-A
  • Chipotle Mexican Grill
  • Circle K
  • Cracker Barrel
  • CVS
  • Davita
  • Dollar General
  • DaVita
  • Dollar Tree
  • Dunkin’
  • FedEx
  • Fifth Third Bank
  • Firestone
  • Fresenius
  • Home Depot
  • Huntington Bank
  • In-N-Out
  • KeyBank
  • McDonald’s
  • NAPA Auto Parts
  • O’Reilly Auto Parts
  • Panera Bread
  • PNC Bank
  • QuikTrip
  • Raising Cane’s
  • Regions Bank
  • Ross Dress for Less
  • Shake Shack
  • Sherwin-Williams
  • Starbucks
  • Taco Bell
  • Target
  • TD Bank
  • T.J. Maxx
  • Tractor Supply Co.
  • U.S. Bank
  • Walmart
  • Wawa
  • Wells Fargo Bank
  • Wendy’s
  • Whole Foods Market
  • Government Services Administration (e.g. FBI and VA)

*Non-investment grade corporate lease tenants will be considered on a select basis with low loan-to-values and long term leases
**The Program will not finance franchise lease tenant properties

First Merchants NNN Finance Team


First Merchants Bank NNN Finance Sean Keane

Sean Keane
Senior Vice President, NNN Finance Director
216.571.1328
[email protected]

Sean has over 25 years of commercial real estate lending experience, closing over $1.1 billion of transactions. He joined the Bank in January 2013 and started the NNN Finance Program. Under his direction and its guiding principles, the Program has experienced explosive growth. Sean has participated as a debt panelist speaker at 20 net lease conferences since 2009. He is a 1991 graduate of John Carroll University where he earned his Bachelor of Business Administration, with an emphasis in Marketing.

First Merchants Bank NNN Finance Tori Beaver

Tori Beaver
Vice President, NNN Finance Manager
[email protected]

Tori has over 18 years of banking experience and joined the NNN Finance Team at the inception of the Program in 2013.  In addition to overseeing all aspects of the Program, she has closed and serviced all of the Program’s $1.1 billion in loans and all associated deposit accounts. She is a 2008 graduate from the University of Southern Indiana where she earned a Bachelor of Science degree in Business Administration with an emphasis in Management and a minor in Marketing. 

First Merchants Bank NNN Finance Ronnie McDermott

Ronnie McDermott
Assistant Vice President,
NNN Finance Credit Manager
[email protected]

Ronnie has over 15 years of banking experience. He joined the Bank in 2018 as an NNN Finance Credit Analyst, has served as the NNN Finance Credit Manager since March 2020, and has underwritten over $400 million of closed transactions for the Program. He is a 2011 graduate of Morehead State University where he earned a Bachelor of Science degree in Business Administration with an emphasis in Accounting.

First Merchants Bank NNN Finance Sarah Love

Sarah Love
NNN Finance Servicing Specialist
[email protected]

Sarah has over 21 years of banking experience. She joined the Bank in 2005 and had served as a teller, head teller and customer service representative before joining the NNN Finance Team as the NNN Finance Servicing Specialist in February 2020. She has assisted with servicing over $580 million in closed loan transactions and services all depository relationships associated with the Program. She is a 2005 graduate of Indiana University Southeast where she earned an Associate Degree in Business.

First Merchants Bank NNN Finance Rose Dierking

Rose Dierking
NNN Finance Credit Analyst
[email protected]

Rose has over 7 years of banking experience. She joined the Bank in 2019 and joined the NNN Finance Team in May 2020 as an NNN Finance Credit Analyst. She has underwritten over $400 million of closed loan transactions for the Program. She is a 2019 graduate from Indiana University Southeast where she earned a Bachelor of Science degree in Business Administration with an emphasis in Accounting.

First Merchants Bank NNN Finance Gino Sartini

Gino Sartini
NNN Finance Credit Analyst
[email protected]

Gino has over 5 years of banking experience. He joined the Bank in 2022 as an NNN Finance Credit Analyst and prior to joining the Bank, he served as a Lease Analyst for the Simon Property Group. He has underwritten over $200 million of closed loan transactions for the Program. He is a 2020 graduate from Indiana University where he earned a Bachelor of Science degree in Finance.

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