Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition of a new construction retail property.
The property in a NNN Starbucks located in the Southern US. With a drive-thru included, this property was immune to any adverse effects of COVID-19.
The sponsor is a real-estate investor with additional commercial investment properties in his portfolio.
- The sponsor wanted to invest in commercial property during an unprecedented time in history.
- An institutional bank was able to see the value in an essential business with COVID work-arounds already in place.
- Funding was secured with a great rate.
- Loan-to-Value: 60%
- Interest Rate: 3.90%
- Amortization: 30 Years
- Term: 10 Years
- Recourse: Non-recourse
- Prepayment: Allowed