Grocery Outlet – NNN Development

Central California, US

$5,400,000

Funding Purpose

Provide 100% Loan-to-Cost Construction financing for single-tenant grocery store enabling sponsor to increase development capacity and eliminate the need to raise capital

Property Description

New 18,000 square foot location for Grocery Outlet in Taft, CA

Sponsors

Experienced California-based developer with a strong track record of build to suit developments

Challenges

  • 100% Loan to Cost request
  • Condensed Closing timeline
  • COVID-related concerns surrounding high-leverage retail requests

Solutions

  • Sourced loan facility from capital provider with whom Tauro has closed over 30 transactions with
  • Organized all due diligence up front
  • Expedited Closing timeline through coordinated communication with Lender

Funding

  • Loan Amount (LTV): $5,500,000 (100% LTC) 
  • Interest Rate: 10.55%
  • Points: 1%in
  • Term: 12 months, 1-six month extension
  • Guarantee/Recourse: Completion Guarantee
  • Prepayment: Minimun Yield of 8.75%

Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com