Tauro Capital Advisors was engaged on an exclusive basis to source acquisition financing for an O’Charley’s Restaurant in the Southeast U.S.
This location consists of an 8,300 square feet full-service restaurant.
The sponsor is a seasoned restaurant operator and NNN retail owner with 25+ years experience. He owns and operates multiple restaurants as well as other asset types including industrial properties.
- Tenant had lease than a year on their current lease
- Sponsor wanted to close by end of year
- Had to get an appraisal and Phase 1 completed in 4 weeks
- Limited interest was expressed from lenders
- Tauro went out to roughly 60 lenders in the local market
- Tauro sourced a lender that was able to offer 80% LTV
- Tauro was also able to lock the rate which remained the same through a Fed Rate increase
- Loan-to-Value: 80%
- Interest Rate: 6.50%
- Amortization: 25 Years
- Term: 7 Years Fixed
- Prepayment: None