Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the acquisition of an Urgent Care located in the Southern US.
Property Description
The property was built to suit in 2021 for a Quick Visit Urgent Care which is in a 12 year NNN lease. Near major hospitals, it’s location couldn’t be better.
Sponsors
The sponsors are a husband and wife team that have 25 years of experience in buying, renovating, and selling real estate making them financially comfortable.
Challenges
- This property is part of a 1031-exchange following the sale of a $700,000 multifamily property, so they were had a deadline.
Solutions
- Funding secured with a smaller bank that was able to give great terms within the deadline allowing the sponsors to make the purchase.
Funding
- Loan to Value: 62%
- Interest Rate: 3.5%
- Amortization: 25 years
- Term: 7 years
- Prepayment: Step-down
