Tauro Capital Advisors was engaged on an exclusive debt-only basis to place a permanent loan for the acquisition of the built-to-suit property.
The property is a single-tenant retail location which features a Family Dollar and Dollar Tree.
The Sponsors have over 20 years on NNN retail experience. The Sponsors purchased the property using 1031-exchange proceeds from the sale of a multi-tenant retail center.
- Sponsor up against 1031-exchange deadline
- Tenant would not issue insurance prior to close
- Rising interest rate environment
- Secured prior to 1031-exchange deadline
- Sourced property insurance for buyer prior to closing
- Rate locked at time of signed term sheet
- Loan-to-Value: 40%
- Fixed Term: 10 Years
- Interest Rate: 4.5%
- Amortization: 25 Years
- Recourse: Payment Guaranty