Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place a loan for the acquisition of an Amazon warehouse facility in Prescott Valley, AZ.
Property Description
The property is a single-tenant industrial asset with state-of-the-art equipment. Amazon spent $6,000,000 on renovations and signed a NNN lease.
Sponsors
The sponsor is a company led by a real estate owner, operator, investor and developer with over 20 years of experience.
Challenges
- The sponsor is using 1031 exchange process from the sale of a 175,000 square foot multi-tenant industrial building.
Solutions
- Funding was secured before the deadline with a national credit union that gave the best terms after consideration of the corporate guarantee and strong sponsorship.
Funding
- Loan Amount (LTV): $7,300,000 (65%)
- Interest Rate: 3.15%
- Amortization: 30 Years
- Term: 10 Years
- Recourse: Payment guarantee
- Prepayment: No penalty
