Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to source acquisition debt for a service station located in the southern US.
Property Description
The service station consists of gas pumps as well as a retail portion. It is located on a main thoroughfare in its city near two major highways.
Sponsors
The Sponsor is an experienced commercial real estate investor with a portfolio worth more than $35M and strong financials outside of that.
Challenges
- The lender initially requested a costly and time-consuming Phase 2 report be completed on the property.
Solutions
- Tauro was able to provide additional documents and work with the lender to avoid this which could have hurt the deal.
Funding
- Loan-To-Value: 80%
- Interest Rate: 8% Fixed
- Amortization: 25 Years
- Term: 5 Years
- Close Date: 5/22/2024
