Funding Purpose
Tauro Capital Advisors facilitated a sponsor’s 1031-exchange proceeds by placing a loan for the acquisition of a Freddy’s Frozen Custard & Steakburgers location in the Midwestern U.S.
Property Description
The property is located on an outparcel in an outer-ring suburb.
Sponsors
The sponsor is an experienced commercial real estate owner and investor with favorable financials.
Challenges
- Tight 1031 deadline through the holidays
- City Easement ran through property
- Closing without delay was a strong concern to buyer team
Solutions
- Tauro had thorough communication with all parties to expedite closing process
- Worked with Title and Lender to waive endorsement
- Selected trusted lender based on certainty of execution
Funding
- Loan-to-Value (LTV): 42%
- Amortization: 30 Years
- Term: 5 Years
- Prepayment: None
