6 Tenant Retail Center – Refinance/Cash Out

Azusa, CA

$400,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the refinance and cash out of a retail property located in Azusa, CA.

Property Description

The property is in a strong location with mostly long-standing tenants. The asset provides strong collateral for a low-leverage loan.

Sponsors

The sponsors have been the owners of a distribution company for over 20 years. Together, they have strong financials.

Challenges

  • Recent tenant vacancies made the capital sourcing process slightly more difficult.

Solutions

  • Funding secured with a national bank, and the sponsor got the maximum amount in proceeds.
  • Tauro analysts underwrote the vacancy to keep lenders apprised.

Funding

  • Loan to Value: 50%
  • Interest Rate: 5.75%
  • Amortization: 30 years
  • Term: 10 years
  • Recourse: Non-recourse
  • Interest Only: 36 months
  • Prepayment: Step-down

Senior Director  | Capital Advisor

714-469-6718

mingle@taurocapitaladvisors.com