Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the development of a convenience store in the southeastern US.
Property Description
The asset is a NNN Wawa Convenience Store and Gas Station asset. The property consists of 30,000 square feet valued at nearly $5 million.
Sponsors
The asset is a NNN Wawa Convenience Store and Gas Station asset. The property consists of 30,000 square feet valued at nearly $5 million.
Challenges
- The Sponsor was referred to Tauro with the only requirement being to close quickly with the best terms possible.
Solutions
- Tauro was able to model, market, and place debt at 95% loan-to-cost all within a month of deal identification.
Funding
- Loan-to-Cost: 95%
- Interest Rate: 13.5%
- Amortization: Interest-Only
- Term: 24 Months
- Recourse: Non-recourse
- Close Date: 11/16/2023
