Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place a loan for the acquisition of an industrial warehouse located in the southeastern US.
Property Description
The asset consists of a 16,000 square foot, single-tenant warehouse on a 2.5-acre property in a major distribution hub. This property is located near several large highways, and it’s also located near a major terminal.
Sponsors
The Sponsor is an experienced group of commercial real estate owners and investors. Financials for the entity as a whole and the individual members are strong.
Challenges
- Borrowers require non-recourse and a minimum of 60% of the purchase price.
Solutions
- Sourced a new out of state lender that was able to provide non-recourse at 62% of the purchase price.
Funding
- Term: 5 Years
- Recourse: Non-Recourse
- Close Date: 10/3/2023
