Industrial (Single-tenant) – Refinance

Los Angelese, CA

$1,350,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place debt for a cash-out refinance of a property located in Van Nuys, CA.

Property Description

The property is a well-located, single tenant industrial asset. It was purchased in 2019 and has had $150K in capital expenditures. It’s been leased by an autobody shop.

Sponsors

The sponsor is an avid multifamily investor with a substantial portfolio. His portfolio consists of 245 units valued at $55MM.

Challenges

  • Sponsor looking for maximum cash out, so he can purchase another property next year.
  • No experience with industrial, but investment experience and works in real estate.

Solutions

  • Funding done with an institutional lender offering him great terms based on experience.
  • The cash out he was given has allowed him to begin searching for his next investment.

Funding

  • Loan to Value: 60%
  • Interest Rate: 4.25%
  • Amortization: 25 years
  • Term: 5 years
  • Recourse: Full recourse
  • Prepayment: Allowed

 

Managing Director  | Capital Advisor

714-401-7667

mbucaro@taurocapitaladvisors.com