Multi-Tenant Medical Office – Acquisition

Northeast, US

$3,800,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition of a multi-tenant medical office in the northeastern US.

Property Description

The property consists of 20K SF. The building is 3 stories with good ceiling height and plenty of parking. All 5 suites are fully occupied NNN tenants.

Sponsors

Sponsorship consists of an S-Corporation ran by 2 individuals with a portfolio of mixed-use and multifamily buildings in the US and Canada. Combined, they have over 50 years of experience and excellent financials.

Challenges

  • The client’s main priority was to get 70% LTV which the deal did not underwrite to.

Solutions

  • Tauro was able to find a solution by structuring an earn out allowing the lender to get up to the LTV request.

Funding

  • Loan To Value: 70%
  • Interest Rate: 6.65% Fixed
  • Term: 10 Years (5+5)
  • Amortization: 30 Years
  • Prepayment: Step Down
  • Close Date: 4/15/2024

Senior Director  | Capital Advisor

714-469-6718

mingle@taurocapitaladvisors.com

Managing Director  | Capital Advisor

714-401-7667

mbucaro@taurocapitaladvisors.com