Tauro Capital Advisors, Inc was engaged on an exclusive basis to place debt for the acquisition of a NNN retail store in Santa Clarita, CA.
The asset is a NNN 99 Cent store consisting of over 45,000 square feet. There is a long term lease in place for this property that was built in 1973.
The sponsors have been investing in Real Estate for 15 years. Their portfolio consists of different asset types, and this was their first purchase of a retail property.
- Both tenants were not investment grade nor were tenant financials available for review.
- Funding secured with a major bank that provided competitive terms and were comfortable with both tenants.
- Loan Amount (LTV): $6,300,000 (65%)
- Interest Rate: 4.72%
- Amortization: 25 years
- Term: 10 years
- Recourse: Payment guarantee
- Prepayment: Yield Maintenance