Funding Purpose
Tauro Capital Advisors was engaged on an exclusive basis to place senior debt for the acquisition of an age-restricted multifamily property in Redlands, CA.
Property Description
The property consists of 40-unit low-rise apartment complex built in 2012 featuring wheelchair-accessible rooms.
Sponsors
The sponsor owns six properties, including a full-service assisted living facility in Redlands, CA.
Challenges
- One of the sponsor’s tenants was looking to move out
Solutions
- Sponsor was able to find another tenant eager to take over the space.
Funding
- Loan Amount (LTV): 65%
- Interest Rate: 3.88% Fixed
- Amortization: 30 Years
- Term: 10 Years
- Prepayment: No Penalty
