Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition and development of three properties in the Western US.
Property Description
The three properties were single tenant net lease buildings that were built to suit by Dutch Bros Coffee. In total, they consist of 2,500 square feet.
Sponsors
The sponsor is a development company that specializes in unique opportunities to create value. The founder is experienced in the commercial real estate world.
Challenges
- The sponsor was looking for 100% LTC development financing.
Solutions
- Funding was secured with a specialty finance group that was able to give the sponsor the financing they wanted.
Funding
- Loan-to-Value: 80%
- Interest Rate: 11%
- Term: 1.5 Years
- Recourse: Payment Guarantee
- Interest Only: 18 Months
