Funding Purpose
Tauro Capital Advisors, Inc. was engaged on an exclusive basis to provide acquisition financing for the purchase of a cannabis dispensary in the Midwestern US.
Property Description
The property includes a 15-year NNN lease with zero landlord responsibilities. It’s the largest operated cannabis company in the state, totaling 30 locations.
Sponsors
The experienced investor is looking to diversify her portfolio and reduce management responsibilities.
Challenges
- The buyer’s 1031-exchange funds were lower than expected.
Solutions
- Tauro communicated with the lender to increase proceeds at the last minute.
Funding
- Loan-to-Value: 70%
- Interest Rate: 4.88% Fixed
- Amortization: 25 Years
- Term: 7 Year Fixed
- Prepayment: None
