Tauro was engaged to place debt for the permanent acquisition of a NNN Retail – Krystal Burgers.
This retail asset is an absolute NNN property leased by Krystal Burgers in the southeastern US complete with an interior dining area of 2,560 SF along with a drive-thru.
The Sponsor is an investor in NNN Commercial Retail properties and has an extensive NNN real estate portfolio.
- Sponsor wanted a sub-6% rate in a rising rate environment.
- Last minute negotiations at closing.
- Sponsor was having trouble obtaining financing from relationship bank.
- Tauro communicated thoroughly with all parties to ensure a smooth closing.
- Loan to Value: 55%
- Interest Rate: 5.95%
- Amortization: 25 years
- Term: 10 years