Funding Purpose
Tauro Capital was engaged on an exclusive basis to place a 41% LTV loan for the acquisition of a Raising Cane’s.
Property Description
The asset is a fully leased and stabilized NNN retail property on a busy street adjacent to a major highway with great visibility.
Sponsors
The Sponsor is an experienced investor with excellent finances, purchasing the property using 1031-exchange proceeds.
Challenges
- Up against 1031-exchange timeline.
- Phase I company recommended Phase II.
Solutions
- Closed before 1031-exchange deadline.
- Was able to call the next door tenant to get a report they had, and advise the Phase I company to recommend no further action.
Funding
- Loan to Value: 41%
- Interest Rate: 3.95%
- Amortization: 30 years
- Term: 10 years
