Buying Out the Leasehold
We purchased a condo last year in Princeville, HI. It is owned by an LLC Partnership. The property is a leasehold, we pay about $16k each year for the 'ground rent.'
I am interested in purchasing the existing lease from the leasor, however I do not want to refinance and create a fee-simple property at this time. The goal is to finance the purchase of the ground lease, and continue to lease the land to the LLC. I've spoken to a few lenders, and none of had solutions to this. Any suggestions?
- Sara Klaus