Funding Purpose
Refinance / Cash Out for single tenant industrial building.
Property Description
Smaller Industrial property located in the San Fernando Valley building frontage on a busy street.
Sponsors
Los Angeles based company catered towards older adults investing in property to expand their operations.
Challenges
- Sponsor request required SBA funding which delayed the closing process.
Solutions
- Institutional lender was able to close with good terms, and the process was kept moving by proactive communication through Tauro.
Funding
- Loan Amount (LTV): 50%
- Interest Rate: 6.0%
- Amortization: 25 years
- Term: 10 years
- Recourse: Recourse
- Prepayment: Step down
