Funding Purpose
Tauro Capital Advisors, Inc. was exclusively engaged to place 1031 acquisition debt for 21 Single Tenant Net Lease QSR’s. These nine properties were financed with the same lender.
Property Description
This bundle of properties consists of Arby’s, Burger King, Chipotle, Dunkin’ Donuts, Hardees, KFC, Krispy Kreme, and 2 Popeyes NNN Retail properties.
Sponsors
The sponsor managed a multifamily asset for over 20 years until he decided to sell it for $45M allowing him to purchase 21 STNL retail properties as part of a 1031 exchange.
Challenges
- Tauro was tasked with sourcing debt for the entire portfolio consisting of 21 properties over $20M and had to stay diligent and organized to find the best financing for each.
Solutions
- In this case, Tauro sourced another credit union that had the best terms for these five properties given their location.
Funding
- Loan Amount (LTV): $12,000,000 (50%)
- Interest Rate: 7.50% Fixed
- Term: 10 Years
- Amortization: 30 Years
- Prepayment: Yield Maintenance
- Close Date: 10/19/2023
