Tauro was exclusively engaged to refinance a permanent loan on a mixed use property located in Arcadia, California.
Mixed-use, owner-occupied property consisting of 60% office/warehouse space and 40% residential space. The residential units were renovated in 2013.
The sponsor is a repeat Tauro client with many years of real estate investment experience. This sponsor has a diverse portfolio and high net worth.
- Finding a lender that would provide leverage with two vacant residential units and a 1.0x DSCR.
- Funding with an institutional bank that met the sponsor’s wishlist.
- Used the sponsor’s global DSCR across his other investment properties to qualify and maximize leverage.
- Loan Amount (LTV): 60%
- Interest Rate: 3.75%
- Amortization: 30 Y
- Term: 10 Y
- Recourse: Full
- Prepayment: Step down