Downtown-based Tauro Capital Advisors Inc. has secured a total of $50 million in loans for three developers on triple-net lease properties. Tauro Capital’s Stephen Stein and Tony Festa arranged the loans.
The largest loan was for $25 million for an unnamed Santa Monica-based developer, which plans to use the money to develop new triple-net properties for tenants including 7-Eleven, Starbucks, Dutch Bros. Coffee and Chick-Fil-A, according to Tauro Capital.
The second loan, Tauro Capital said, was for $15 million to a Western developer for triple net developments for Circle K, O’Reilly Auto Parts, AutoZone, Starbucks and other tenants.
The third loan, for $10 million, was for a private developer based in Northern California. The money will fund future developments in California for tenants including Starbucks, Grocery Outlet and 7-Eleven.