Funding Purpose
Tauro Capital Advisors, Inc. was exclusively engaged to place an SBA 504 loan for the acquisition of a medical office condo located in Torrance, CA.
Property Description
The asset is 1500 SF within a prominent medical plaza in the South Bay. Sponsor will be signing a lease with herself upon acquisition completion.
Sponsors
The Sponsor will be the full owner occupying the pace for her acupuncture and wellness practice. She has practiced in the field for over over 20 years.
Challenges
- Sponsor opted to delay closing amidst a turbulent market.
Solutions
- Tauro was able to find and maintain a lender throughout the closing process offering the Sponsor good terms for the purchase.
Funding
- Loan to Value: 76%
- Interest Rate: 7.88%
- Amortization: 25 years
- Term: 25 years
- Close Date: 2/2/2024
