Felspar Multifamily – Refinance

San Diego, CA


Funding Purpose

Tauro was engaged to source debt on a refinance of a multifamily property owned by an investor with a perm loan coming due soon.

Property Description

The multifamily asset consists of 7 occupied units and is located in San Diego. 5 of the 7 have already been significantly renovated, and the plans are ready for the remainder.


The sponsor is an LLC owned by 2 attorney’s who double as experienced real estate investors and operators with a portfolio along the Southern California coast and Hawaii.


  • Original debt term was quickly approaching, and a refinance was needed urgently.
  • Buyer needed max LTV to payoff existing loan.


  • Tauro negotiated an earnout with the lender when the two ADU’s are complete.


  • Interest Rate: 5.75%
  • Fixed: 3/6 ARM (7 year total term)
  • Amortization: 30 years
  • Interest Only: 1 year
  • Prepayment: No penalty

Associate Director  | Capital Advisor



Managing Director  | Capital Advisor