Multifamily – Acquisition

Southwest, US

$2,510,000

Funding Purpose

Tauro Capital Advisors, Inc. was exclusively engaged to place a permanent loan for the acquisition of a multifamily property.

Property Description

The property is a 10-unit multifamily building located in the Southwestern US. It was 100% leased with a 2% loss-to-lease. It’s located in a lively part of town.

Sponsors

The sponsors are a group of people united under a LLC that own and operate several multifamily and retail properties. They’ve been in real estate for decades.

Challenges

  • The purchase of this property was to be up-leg of a 1031-exchange.
  • The sponsor was under a deadline to purchase a property.

Solutions

  • Funding was successfully done by a credit union service organization.
  • The experience of the partners and the updated property made for great terms.

Funding

  • Loan-to-Value: 60%
  • Interest Rate: 3.5%
  • Amortization: 30 Years
  • Term: 15 Years
  • Recourse: Non-recourse
  • Prepayment: Allowed

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com