Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition of a Dollar General located in the Southern US.
Property Description
The property is an 11,000 square foot, brand new construction retail store where Dollar General commenced a 15 year NNN lease beginning in 2021.
Sponsors
The sponsor is an experienced real estate investor with roughly 40 years of multifamily experience and 30 years of double and triple net experience.
Challenges
- The acquisition of this asset is part of a 1031-exchange after the sponsor sold another NNN property in his portfolio.
Solutions
- Funding was secured with a major bank within the deadline.
Funding
- Loan Amount: $1,520,000
- Amortization: 30 Years
- Term: 10 Years
- Recourse: Carve-outs
- Prepayment: Step-down
