NNN Panda Express – Acquisition

Stockton, CA


Funding Purpose

Tauro Capital Advisor was engaged on an exclusive basis to place a loan for the acquisition of a ground lease NNN Panda Express location in Stockton.

Property Description

The property was built to suit in 2006 for Panda Express who signed a 20 year ground-lease at the end of construction. Location in a large retails center.


The sponsor is an experienced real estate investor with other NNN holdings and some multifamily assets.


  • The sponsor was using 1031-exchange proceeds from the sale of a multifamily property and needed to find a suitable investment with the timeline.


  • Funding secured through a credit union.
  • Based on sponsor’s low LTV requirement, the credit union was able to give extremly favorable terms with a quick close.


  • Loan Amount (LTV): 38%
  • Interest Rate: 3.67%
  • Amortization: 30 years
  • Term: 10 years
  • Recourse: Carve-Outs
  • Prepayment: Step down

Managing Director  | Capital Advisor