Funding Purpose
Tauro Capital Advisors was engaged on an exclusive basis for the refinance of two adjacent industrial properties (manufacturing/flex) in El Segundo, CA (Los Angeles MSA).
Property Description
These assets are two industrial properties located in the industrial park of the booming El Segundo,CA market 3 miles from Los Angeles International Airport.
Sponsors
The sponsor and his family have owned both properties for over 30 years. Earlier this year, the sponsor closed a loan to renovate and re-tenant the properties.
Challenges
- The tenant signed their new lease in December of 2021.
- Tenant has been operating for less than 4 years.
- Properties both owned under different entities.
Solutions
- Found lender that was able to work with new tenants.
- Helped client set up both LLCs properly for future transactions.
Funding
- Loan to Value: 55%
- Interest Rate: 4%
- Amortization: 25 years
- Term: 10 years
- Prepayment: Step-down
