Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place a loan for the acquisition of a single tenant Edgen Muray office building.
Property Description
The property has been occupied by the tenant for over 20 years and recently signed a 10-year extension.
Sponsors
The sponsor is a consultant in the energy/infrastructure industry and an experienced CRE investor.
Challenges
- The lease had a provision in which the tenant could back out at any time with a 180 day notice.
Solutions
- Tauro mitigated the lease issue using a strong lender relationship.
Funding
- Loan-to-Value: 65%
- Interest Rate: 5.11% Fixed
- Amortization: 30 Years
- Term: 5 Year Fixed
- Recourse: Payment Guaranty
- Prepayment: No Penalty
