Funding Purpose
Tauro Capital Advisors, Inc. was exclusively engaged to refinance a NNN Freddy’s QSR. The funds were needed to invest in another NNN asset.
Property Description
Brand-new Freddy’s fast food restaurant. Single Tenant Absolute NNN Lease. 2nd largest franchisee in the U.S.
Sponsors
This sponsor is a repeat client. Owns gas stations in the Southeast and wanted to pivot to NNN assets to avoid management headache.
Challenges
- 1031 exchange cash out refinance
- Max proceeds needed for another NNN acquisition
Solutions
- Worked with our client’s CPA & Attorney to make sure we were in compliance
- Tauro was able to achieve the leverage needed
Funding
- Interest Rate: 6.85% Fixed
- Term: 10 Years
- Amortization: 30 Years
- Prepayment: None
- Close Date: 8/21/2024
