Seneca Terrace Multifamily – Acquisition

Tucson, AZ

$6,100,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place preferred equity (up to 87.5% LTC for the acquisition and renovation of a property in Tucson, AZ.

Property Description

The multifamily property consists of 109 units. The renovation will include $15,000 per unit, and over $900k for the complex. The sponsor is planning a 5 year hold.

Sponsors

The sponsor has a strong investment track record in multifamily acquisitions with a portfolio of 1,119 units across 12 properties in the southwest.

Challenges

  • The sponsor wants to find an equity partner that’s able to fund a large portion of the acquisition and renovation costs.

Solutions

  • A privately-held investment company was secured by Tauro that was able to structure a creative funding solution for the sponsor to purchase and renovate this property.

Funding

  • Interest Rate: 87.5%
  • Amortization: 12%
  • Hold: 3 years

Senior Director  | Capital Advisor

310-654-0683

pdavidovac@taurocapitaladvisors.com

Director  | Capital Advisor

858-337-7345

mmueller@taurocapitaladvisors.com