Lamar Street Multifamily – Acquisition

Southwest, US

$4,600,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on n exclusive basis to place debt for the acquisition of a multifamily property as part of a 1031 exchange.

Property Description

The property consists of 28, 2 bedroom units near a major city and university. Rent is currently below market on this asset.

Sponsors

Sponsors have built a robust real estate portfolio over the past 10 years while managing a family member’s portfolio. Both consist of small, LA multifamily properties.

Challenges

  • 1031 exchange deadline was fast approaching.
  • Capital expenditures were ongoing to bring the units up to market rate.

Solutions

  • Funding secured with a lending source that provided terms based on the value of future rents.

Funding

  • Loan to Value: 60%
  • Interest Rate: 3.75%
  • Amortization: 30 Years
  • Term: 10 Years
  • Recourse: Payment guarantee
  • Prepayment: No penalty

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com