Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition and development of a Dutch Bros location in the Midwest.
Property Description
This asset is a Single Tenant Net Lease with 15 years on the lease. This site is fully-entitled and shovel-ready.
Sponsors
Sponsorship is a repeat Tauro client who is an experienced development firm specializing in single-tenant development with a strong local presence.
Challenges
- Sponsor wants to minimize equity contribution with a smooth closing process.
- Greater than 12 month term with flexibility to allow for sale within first year.
Solutions
- Tauro’s experience with the property type and capital providers in the market provided aggressive lending terms and created a new lending relationship for a repeat client resulting in subsequent opportunities under loan application currently.
Funding
- Loan To Cost: 92%
- Term: 15 Months
- Rate: 11.25% Fixed
- Fees: 1 point in, 1 point out
- Guarantee: Burn off at completion
- Close Date: 8/9/2024
