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.
The property was recently leased by Walgreens which signed a 13-year absolute NNN lease.
The sponsor is a prominent residential real estate agent with over $2 billion in career sales.
- Sponsor’s complex credit history forced a last-minute pivot in capital providers.
- Tauro was able to source funding with a different capital provider who offered a non-recourse loan.
- Loan-to-Value: 50%
- Interest Rate: 4.75%
- Amortization: 30 Years
- Term: 10 Years
- Recourse: None
- Prepayment: 3, 2, 1