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Mixed Use – Refinance

ARCADIA, CA

$1,500,000

ARCADIA, CA

 

Funding Purpose

Tauro was exclusively engaged to refinance a permanent loan on a mixed use property located in Arcadia, California.

Property Description

Mixed-use, owner-occupied property consisting of 60% office/warehouse space and 40% residential space. The residential units were renovated in 2013.

Sponsors

The sponsor is a repeat Tauro client with many years of real estate investment experience. This sponsor has a diverse portfolio and high net worth.

Challenges:

  • Finding a lender that would provide leverage with two vacant residential units and a 1.0x DSCR.

Solutions:

  • Funding with an institutional bank that met the sponsor's wishlist.
  • Used the sponsor's global DSCR across his other investment properties to qualify and maximize leverage.

Funding

  • Loan Amount (LTV): 60%
  • Interest Rate: 3.75%
  • Amortization: 30 Y
  • Term: 10 Y
  • Recourse: Full
  • Prepayment: Step down


Alisa Freundlich

Alisa Freundlich

TITLE

Senior Director, Capital Advisor

Avi Youshaei

Avi Youshaei

Anthony Johnston

Anthony Johnston

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