NNN Walgreens – Refinance

Garden Grove, CA

$5,100,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place debt for a no cash-out refinance on a single-tenant NNN retail building.

Property Description

The 15,000 square foot property is located in Garden Gove, CA. There is a 75 year NNN corporate guaranteed lease with Walgreens.

Sponsors

The sponsor is an experienced real estate investor with both retail and multifamily assets.

Challenges

  • Sponsor was seeking a loan with the maximum amortization that’s also non recourse.

Solutions

  • Funding secured with a California based credit union that was able to give a loan with a 30 year amortization that was also non recourse.

Funding

  • Loan Amount (LTV): 65%
  • Interest Rate: 4.13%
  • Amortization: 30 years
  • Term: 15 years
  • Recourse: Non recourse
  • Prepayment: Step down

Director  | Capital Advisor

310-966-0025

fpaparella@taurocapitaladvisors.com