Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to source senior debt for the acquisition of a Dutch Bros location in the midwestern US.
Property Description
The property is a retail asset that has an absolute 15-year NNN lease with Dutch Bros that recently commenced. There is a drive-thru attached to the 1,000 SF property.
Sponsors
The Sponsor is an experienced commercial real estate owner and investor with another four properties in his portfolio making for a strong net worth.
Challenges
- Many third parties to coordinate with
- Time crunch prior to Sponsor’s international vacation
- Intricate trust structure with multiple other parties and buyouts
Solutions
- Tauro went above and beyond to streamline communication
- Multiple notaries scheduled out of state to ensure Loan Docs were signed on time
- Coordinated with lender legal and multiple attorney offices to amend issues
Funding
- Loan To Value: 55%
- Term: 10 Years
- Amortization: 30 Years
- Interest Rate: 6.70%
- Fixed Term: 7 Years
- Prepayment: Step Down
- Close Date: 2/29/2024
