Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to source financing for an acquisition of a freestanding grocery tenant in Phoenix, AZ.
Property Description
The asset is a fully leased and stabilized NN retail property on a busy intersection with great visibility.
Sponsors
The sponsor is an investor with excellent financials. He owns multiple other retail properties valued at nearly $220 million.
Challenges
- Sponsor was looking to obtain financing in a rising rate environment at the lowest rate possible.
Solutions
- Funding secured with a CMBS lender that was able to get the sponsor maximum LTV.
Funding
- Interest Rate: 10 year swap + 270
- Amortization: Yield Maintenance
- Term: 10 years
- Recourse: Non-Recourse
