Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to source financing for an acquisition of a freestanding Walgreens Drugstore.
Property Description
The asset is a fully leased and stabilized NNN retail property on a busy intersection with great visibility.
Sponsors
The sponsor is an investor with excellent financials. She owns multiple other retail properties valued at nearly $110 million.
Challenges
- Sponsor was looking to obtain financing in a rising rate environment at the lowest rate possible.
Solutions
- Funding secured with a Credit Union that was able to offer the sponsor max proceeds at the lowest rate.
Funding
- Loan Amount: $1,450,000
- Interest Rate: 3.59%
- Amortization: 30 Years
- Term: 10 Years
- Prepay: None
