Absolute NNN Dollar General – Acquisition

Midwest, US

$1,134,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged to place debt for the acquisition of a retail property that the sponsors plan to refinance immediately for further investments.

Property Description

Dollar General was relocated to this built-to-suit location in 2021 to offer a plus-size store prototype with 11,000 SF. The lease is in place for 15 years.

Sponsors

The sponsors are experienced commercial real estate investors with a current portfolio of two retail and industrial properties in California, and they want to expand.

Challenges

  • This purchase is part of a 1031-exchange from the sale of a multi-tenant retail asset, so the closing for this property was on a tight deadline.

Solutions

  • Funding secured with a national bank that could meet the deadline.

Funding

  • Loan to Value: 65%
  • Interest Rate: 3.54%
  • Amortization: 30 Years
  • Term: 10 Years
  • Recourse: Non-recourse
  • Prepayment: No penalty

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com