Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to refinance this portfolio for the sponsor.
Property Description
The properties consist of two medical offices totaling 10,000 SqFt. They were built simultaneously in the 50s and 7 tenants in Redondo Beach, CA.
Sponsors
The sponsor is experienced in real estate investments with several investments. He intends to reinvest cash-out proceeds into common areas and interiors.
Challenges
- Sponsor looking to get maximum proceeds from the refinance.
Solutions
- Funding secured with a national bank that was able to give maximum proceeds to the sponsor.
Funding
- Loan Amount (LVT): 50%
- Interest Rate: 43.50%
- Amortization: 25 years
- Term: 10 years
- Recourse: Non recourse
- Prepayment: Penalty waived
