Funding Purpose
Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the acquisition of a Circle K.
Property Description
The asset is a fully leased and stabilized NNN retail property located on a busy street adjacent to a major highway and other retail locations.
Sponsors
The Sponsor is a an experienced real estate investor with a diverse portfolio and solid financials. The sponsor will be purchasing the property using 1031-exchange proceeds.
Challenges
- Up against 1031-exchange timeline.
Solutions
- Funding secured with a credit union that was able to get the deal closed before the 1031-exchange timeline.
Funding
- Loan Amount (LTV): $4,800,00 (55%)
- Interest Rate: 3.60%
- Amortization: 30 years
- Term: 10 years
- Recourse: Partial Recourse
