Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the acquisition of a 44-unit multifamily property in the Midwestern region of the US.
The asset has a total of 42,816 square feet and is valued at $2,600,000. Its 44, two-bedroom units average just under 1,000 square feet. All occupied units are current on rent with no delinquencies.
The sponsor is a privately-owned, multi-million dollar family fund with a lively multifamily portfolio on Southern California with sound financials.
- Finding a finance provider that offered a higher LTV and fair terms giving both the lender and borrower and opportunity for success.
- Funding secured with a local investment group who was able to meet the borrower’s requests and provide them with maximum LTV.
- Loan to Value: 75%
- Interest Rate: 3.80%
- Amortization: 30 Years
- Term: 7 Years
- Recourse: Non-Recourse
- Prepayment: Yield Maintenance