NNN Starbucks – Acquisition & Development

Redding, CA

$2,200,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition and development of a Starbucks location in Northern California.

Property Description

The property is located on the main thoroughfare in the city of Redding. The lease was signed prior to loan funding on the future 1,200 square foot NNN retail space.

Sponsors

The sponsor is a privately held real estate firm based in Northern California who specializes in first-class, net leased retail development in growing cities.

Challenges

  • Lending environment has become increasingly more expensive.
  • Seeking 100% Loan to Cost.
  • Title company presented challenges and delays in closing.

Solutions

  • Tauro sourced creative lending solution at competitive pricing.
  • Through a partial personal guarantee, lender was able to get comfortable at 100% LTC.
  • Tauro facilitated dialogue between borrower & lender teams to minimize the title requirements and address a timely closing.

Funding

  • Loan to Cost: 100%
  • Interest Rate: 30-day SOFR + 85 bps (9.99% Floor)
  • Amortization: Interest Only
  • Term: 1 year
  • Recourse: Less than 10% personal repayment guarantee
  • Interest Only: 12 months

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com