Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to source a Cash-out Refinance of a freestanding retail property in the Southeastern US.
Property Description
The asset is a fully leased and stabilized NNN retail property on a busy intersection with great visibility.
Sponsors
The sponsor is a single investor with excellent financials. He owns multiple other retail properties valued at nearly $20 million.
Challenges
- Sponsor was looking to obtain financing with the lowest rate possible.
Solutions
- Funding secured with a credit union that was able to get the sponsor an incredible rate with maximum LTV.
Funding
- Loan Amount: $1,412,000
- Interest Rate: 3.50%
- Amortization: 30 years
- Term: 10 years
- Recourse: Non-recourse
