Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive bases to place debt for the refinance of a multifamily asset located in southern California.
Property Description
The property consists of 16 units across 14K SF. It was built in 1986 and is 100% occupied. This is in part due to its strong location in the San Fernando Valley.
Sponsors
The sponsorship consists of commercial real estate investors with a large multifamily portfolio in Los Angeles.
Challenges
- Sponsor wanted a smooth closing process.
Solutions
- Tauro was able to facilitate the deal and get it across the finish line without any hiccups, so the Sponsor could focus on the other deals coming up in their portfolio.
Funding
- Loan to Value: 46%
- Interest Rate: 5.87%
- Term: 10 Years
- Amortization: 30 Years
- Close Date: 3/29/2024
