Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the refinance of a single-tenant freestanding retail building.
This asset is a fully leased and stabilized NNN retail property located next to a major highway and shopping center with large retail stores.
The sponsor is an experienced development group that holds the Area Development Agreement for 150 Panera Bread and Bakery Cafés across 8 states. The sponsor is seeking better financing terms for this specific Panera location.
- Sponsor looking to refinance and pull max proceeds to invest in upcoming development projects.
- Funding secured with a local bank and trust was able to provide the cash out requested to fund the pipeline adequately.
- Loan to Value: 68%
- Interest Rate: 3.65%
- Amortization: 30 years
- Term: 10 years
- Recourse: Partial Recourse