Tauro was engaged to place a senior loan for the refinance of a Social Security office in Anaheim, CA.
The property was built to suit in 2009 with almost 18,000 square feet. The property’s low leveraged senior loan was to be replace with one that provides a TI/LC reserve.
The sponsor is an LA based development firm with 31 years of experience. They specialize in build-to-suit properties over multiple asset classes.
- Sponsor looking to refinance the loan on their property to get higher leverage and better terms.
- Funding secured through a credit union that was able give exceptional terms.
- Loan to Value: 65%
- Interest Rate: 3.88%
- Amortization: 25 years
- Term: 10 years
- Recourse: Carve outs
- Prepayment: No penalty