Tauro Capital Advisors, Inc. was engaged on an exclusive bases to place debt for the refinance of a retail building located in the Southwestern US.
The asset is a two-tenant freestanding building with two NNN, 10 year leases from Panera and Pacific Dental. It’s located in a highly trafficked area.
The sponsor is a development group that has an exclusive agreement with Panera across 8 states totaling in more than 150 of the chain restaurants.
- Sponsor looking to refinance and pull max proceeds to invest in upcoming development projects.
- Funding secured with a local bank and trust that was able to provide the cash out requested to fund the pipeline adequately.
- Loan Amount: $4,400,000
- Interest Rate: 4.00%
- Amortization: 25 years
- Term: 10 years
- Recourse: Payment guarantee