Funding Purpose
Tauro Capital Advisors has been engaged on an exclusive basis to place a $1 million loan for the acquisition and renovation of a dispensary in the Midwest.
Property Description
This retail asset is an absolute NNN property leased by Schwazze in the Midwest US that will be used as a Cannabis grow facility and dispensary.
Sponsors
The Sponsors are very experienced and well known NNN developers with an extensive track record in this space.
Challenges
- Finding a lender that was comfortable with with a Cannabis tenant.
- Last minute negotiations at closing.
- Sponsor was having trouble obtaining financing from relationship bank.
Solutions
- Tauro sourced financing through an extensive search of both local and national lenders.
Funding
- Loan to Cost: 70%
- Interest Rate: 10.00%
- Amortization: Interest-Only
- Term: 18 Months
