Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the acquisition of a Dollar General location in the Southwest U.S.
The property was a build-to-suit asset that completed construction in October.
The sponsor acquired the subject property using 1031-exchange proceeds from the sale of an SFR for-rent asset.
- Sponsor had a vacation scheduled and would be out of the country during closing.
- This specific township requires certain loan endorsements and an updated proforma in order to close.
- Tauro communicated with the lender to have the sponsor sign loan documents before leaving the country and accept certain items post-close.
- Tauro worked with the title company and state counsel to expedite these documents to close on time.
- Loan Amount (LTV): 50%
- Interest Rate: 5.12% Fixed
- Amortization: 30 Years
- Term: 10 Years
- Prepayment: No Penalty