Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place low-leverage, permanent acquisition loan for this property.
Property Description
The property is a single tenant net lease retail property with 17 years remaining on the lease. It was recently remodeled and is roughly 3,000 square feet.
Sponsors
The sponsor is an experienced property owner and real estate professional with strong financials.
Challenges
- The property is located in a non-major market.
- There was a leaking underground storage tank nearby.
Solutions
- Funding was secured despite issues since the market is experiencing high growth.
- The leak was plugged with numerous reports saying it’s safe.
Funding
- Loan-to-Value: 30%
- Interest Rate: 4.35%
- Amortization: 30 Years
- Term: 10 Years
- Recourse: Payment guarantee
- Prepayment: Step-down
