Funding Purpose
Tauro was engaged on an exclusive basis to place 80% LTC financing for the development of an Advance Care Medical urgent care and internal medicine facility.
Property Description
This property was built and designed for ACM’s medical care business.
Sponsors
The sponsor is a vertically integrated CRE development firm with a strong pedigree with similar developments.
Challenges
- Early stage tenant with little financial information
- Less than ten locations currently operating
- Ownership structure required non-recourse debt
Solutions
- Tauro sourced a new lending partner willing to provide financing for this location and various future sites.
- Tauro’s experience in the product type led to creative capitalization structure that met the client’s needs.
Funding
- Loan to Cost: 80%
- Interest Rate: 8.0%
- Term: 18 Months
- Recourse: Carve-out
- Interest Only: 18 Months
- Prepayment: 6 Months
