Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition of a retail center anchored by a Chipotle and Starbucks.
The property consists of two single-tenant NNN restaurants. Construction was completed on the properties in 2019 after which their 10 year leases began.
The sponsor is an experienced property owner of long-term NNN restaurant lessors. He’s experienced when it comes to investments of this property type.
- The property’s location is in a non-major market.
- The location concern is mitigated by the high growth the city has been seeing.
- Funding secured by a California bank that gave low leverage permanent financing.
- Loan to Value: 50%
- Interest Rate: 4.78%
- Amortization: 30 years
- Term: 10 years
- Recourse: Non-recourse
- Interest Only: 60 months
- Prepayment: Step-down