Multi-Tenant Retail – Acquisition

Scottsdale, AZ


Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place senior debt for the acquisition of a ground-leased multitenant shopping center in the Southwest U.S.

Property Description

The Block at Pima Center is a Class A+ multitenant retail center comprised of 37,958 NRSF over four buildings on a 6.4 acre parcel, with 173 parking spaces. This trophy asset has a diverse mix of national, and local tenants on long-term leases and is located within one of the premier entertainment destinations in the Southwestern U.S.


The sponsor is an experienced Michigan-based real estate investor that is diversifying their CRE portfolio into the Sunbelt. They have a proven track record of ownership and operation of multitenant retail properties across multiple geographic markets.


  • Ground lease on Tribal land
  • Extended closing timeline due to Tribal and BIA approvals
  • Rising rate and deteriorating macro environment
  • Shallow lender pool due to idiosyncrasies of the ground lease


  • 120-day rate lock to accommodate longer closing timeline


  • Loan Amount: $14,500,000
  • Loan-to-Value: 62%
  • Interest Rate: 5.6% Fixed
  • Term: 7 Years
  • Amortization: 25 Years
  • Prepayment: None