Funding Purpose
Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the refinance of a 7-Eleven location in Lakewood, CA.
Property Description
The property is located near the busy Del Amo Blvd. corridor in Lakewood, CA and is approximately 1.5 miles west of I-605.
Sponsors
The sponsors are experienced commercial real estate professionals with a real estate portfolio worth more than $7,000,000.
Challenges
- Prior to 7-11 in the 90’s, a laundromat was on the site which concerned the original lender, requiring extra work to be done prior to close.
Solutions
- Pivoted to new lender that funded without new tests being run as the past ones proved to be sufficient.
Funding
- Loan-to-Value: 53%
- Interest Rate: 4.91%
- Amortization: 30 Years
- Term: 7 Years
- Recourse: Full
- Interest Only: None
- Prepayment: 3, 2, 1
