40-Unit Multifamily – Acquisition

Redlands, CA

$4,000,000

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

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Senior Director  | Capital Advisor

310-966-0025

fpaparella@taurocapitaladvisors.com