Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place the debt for the acquisition of a 7Brew Coffee location in the southern US.
Property Description
The Built-to-Suit 7Brew Coffee executed a 15-year absolute net ground lease that commenced at closing. It is located at a major intersection next to other QSR’s.
Sponsors
The Sponsor is an experienced commercial real estate investor with a portfolio worth more than $20M. 83% of his net worth is held in cash and liquid investments making his financials strong.
Challenges
- Client was looking for max leverage, a good rate, and no prepayment penalty.
Solutions
- Tauro was able to deliver in this market getting the Sponsor his desired terms through a credit union for a fee of less than 1 point.
Funding
- Loan To Value: 55%
- Interest Rate: 6.08%
- Term: 10 years (5 years fixed)
- Amortization: 25 Years
- Prepayment: No Penalty
- Close Date: 3/11/2024
