Funding Purpose
Tauro Capital Advisors was engaged on an exclusive basis to provide acquisition financing for the purchase of a cannabis dispensary in the Southeast US.
Property Description
Insa is a vertically integrated Medical Marijuana Treatment Center with 10 dispensaries in development and 20 more to come in 2023 in Florida and Massachusetts. Florida is the largest medical marijuana market in the US with over $1.5 billion in annual sales and the third largest market behind only California and Colorado.
Sponsors
The sponsor is an experienced investor who is looking to diversify his portfolio and create generational wealth.
Challenges
- Tauro was up against a tight 1031-exchange deadline.
Solutions
- Tauro negotiated with the lender to use prior 3rd party reports to mitigate costs and time.
Funding
- Loan-to-Value: 65%
- Interest Rate: 6.25%
- Amortization: 30 Years
- Term:5 Years Fixed
- Prepayment: No Penalty
