Tauro was exclusively engaged to source the bridge loan on this single tenant restaurant to help bridge the gap to clean up buyer financial profile.
Black Bear Diner is a free standing restaurant with locations across 14 states primarily in the western U.S.
Inexperienced investor new to NNN retail and has a weak global debt coverage ratio with little reportable income.
- Tertiary Market & weak sponsorship
- Borrower had a tight timeline to close
- Rising interest rate environment
- Got lender comfortable with market given the strength of the tenant
- Expedited closing process using prior third party reports
- Short term bridge to give borrower time to clean up financials
- Loan To Value: 55%
- Interest Rate: 10%
- Term: 12 months
- Prepayment: No penalty