SM Office (Multi-tenant) – Refinance

Santa Monica, CA

$10,000,000

Funding Purpose

Tauro Capital Advisors, Inc was engaged on an exclusive basis to refinance this asset for the sponsor.

Property Description

The property consists of 3 contiguous buildings with 18,000 SqFt of rentable space. The property is located in a prime Santa Monica spot, and is 100% leased.

Sponsors

The sponsor is a high net worth individual who works as the president of a major real estate services firm in Southern California.

Challenges

  • The sponsor was looking for maximum leverage to a 1.25 DSCR.

Solutions

  • Funding secured with a national bank that was able to give the sponsor maximum leverage at a 1.25 DSCR.

Funding

  • Loan to Value: 65%
  • Interest Rate: 3.34%
  • Amortization: 25 years
  • Term: 10 years
  • Recourse: Non-recourse
  • Prepayment: Allowed

 

Senior Director  | Capital Advisor

310-426-8080

ajohnston@taurocapitaladvisors.com

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com