Single-Tenant Walgreens – Cash-Out/Refinance

Northeast, US

$4,150,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the cash-out refinance of a Walgreens location in the Northeast US, utilizing the sponsor’s 1031-exchange funds.

Property Description

The property was recently leased by Walgreens which signed a 13-year absolute NNN lease.

Sponsors

The sponsor is a prominent residential real estate agent with over $2 billion in career sales.

Challenges

  • Sponsor’s complex credit history forced a last-minute pivot in capital providers.

Solutions

  • Tauro was able to source funding with a different capital provider who offered a non-recourse loan.

Funding

  • Loan-to-Value: 50%
  • Interest Rate: 4.75%
  • Amortization: 30 Years
  • Term: 10 Years
  • Recourse: None
  • Prepayment: 3, 2, 1

Senior Director  | Capital Advisor

310-426-8080

ajohnston@taurocapitaladvisors.com

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com