Park Plaza Retail Center – Bridge
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Park Plaza Retail Center – Bridge

Pico Rivera, CA

$9,570,000

Pico Rivera, CA

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place a bridge loan for the refinance of a large retail center located in Pico Rivera, CA.

Property Description

The property was purchased by the sponsor in 2007 and has had no vacancies since 2016. Located in a good place next to other major retailers.

Sponsors

The sponsor is an experienced real estate investor and developer with over 35 years of retail value-add experience with strong financials.

Challenges

  • The sponsor wants a bridge loan in order to split the property and sell the corner parcel.
  • The original lender traded this project last minute.

Solutions

  • Funding sourced quickly with a debt fund that was able to offer similar terms and close in 6 days to help the sponsor with his timeline.

Funding

  • Loan Amount: $9,570,000
  • Interest Rate: 6.24%
  • Interest Only: 24 months
  • Term: 2 years
  • Recourse: Non recourse
  • Prepayment: Allowed


Matt Bucaro

Matt Bucaro

TITLE

Senior Director | Capital Advisor

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