Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to secure a cash out refinance at a significantly lower interest rate.
Property Description
The property is a 4 unit outparcel built in 2018, tenanted by national and regional credit tenants. All tenants are leased on a 10 year NNN basis through 2028.
Sponsors
The sponsor is a single investor with strong financials looking for better terms for this property.
Challenges
- Sponsor newly widowed.
- First time going through a CRE loan process.
Solutions
- Tauro Advisor managed the entire loan process from marketing to close.
- Tauro Advisor walked client through complete process.
- Secured financing with historic and award-winning credit union.
- Reduced interest rate by 125 basis points.
Funding
- Loan to Value: 60%
- Interest Rate: 3.63%
- Amortization: 30 Y
- Term: 10 Y
- Recourse: Payment Guarantee
- Prepayment: Allowed
