Funding Purpose
Tauro Capital Advisors was engaged on an exclusive bases to place a loan for the acquisition of an absolute NNN Jack in the Box in the Southern US.
Property Description
This tenant has operated in the 2,100 SqFt building for over 50 years and just renewed for another 5. Located near a major shopping center with a lot of traffic.
Sponsors
The sponsor is a Senior Vice President at Marcus & Millichap and is an experienced real estate investor with a portfolio of over 10 properties, most of which are NNN.
Challenges
- Sponsor is looking to purchase this Jack in the Box at the maximum leverage with the lowest interest rate allowed.
Solutions
- Funding secured with a Minnesota based credit union that was able to get the sponsor great terms.
Funding
- Loan to Value: 60%
- Interest Rate: 3.34%
- Amortization: 30 years
- Term: 10 years
- Recourse: Payment guarantee
- Prepayment: No penalty
