NNN CVS – Refinance

South, US

$2,045,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis for the refinance of a NNN Retail CVS located in the Southern US.

Property Description

This asset is a fully leased and stabilized NNN CVS operating at this location since 2008. The property is located near a major US Highway and is surrounded by other large retail stores.

Sponsors

Our Client in a highly experienced real estate investor based in Southern California. This property was purchased as part of a 1031-exchange as they have been relocating their portfolio.

Challenges

  • Client seeking 11-year term to match remaining lease term.
  • Rent holiday for the last 36 months.

Solutions

  • 13-year loan term with 30-year amortization to protect borrower against loan maturity with a short remaining lease term.
  • Debt service reserve for the last 36 months.

Funding

  • Loan to Value: 55%
  • Interest Rate: 3.65%
  • Amortization: 30 years
  • Term: 13 years
  • Recourse: 50%
  • Prepayment: Step-down

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Director  | Capital Advisor

858-337-7345

mmueller@taurocapitaladvisors.com