Funding Purpose
Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the refinance of a WhiteWater Express Car Wash location in the South Central U.S.
Property Description
The property is one of at least 100 locations located in a high-growth suburb.
Sponsors
The sponsor is a repeat client who will be acquiring 5+ assets over the next year.
Challenges
- The sponsor purchased the property prior to CofO.
Solutions
- Tauro worked with the surveyor to complete an “as-built” which allowed the lender to close prior to CofO.
Funding
- Loan Amount (LTV): 55%
- Interest Rate: 6.03%
- Amortization: 30 Years
- Term: 7 Years
- Recourse: Non-Recourse
