Funding Purpose
Tauro Capital Advisors, Inc. was exclusively engaged to source the debt for a purchase of a Starbucks & T-Mobile center.
Property Description
New Construction two tenant asset in a very affluent area. Corporately Guaranteed lease by both Starbucks & T-Mobile.
Sponsors
This sponsor is a repeat client. Owns gas stations in the Southeast and wanted to pivot to NNN assets to avoid management headache.
Challenges
- SNDA timelines for both tenants had long lead times
- Insurance policies were to be paid out of pocket and reimbursed by tenant
Solutions
- Tauro was able to get the lender to accept the SNDA post-close
- Tauro assisted our client in establishing their own insurance policy with the current provider
Funding
- Interest Rate: 6.80% Fixed
- Term: 10 Years
- Amortization: 30 Years
- Prepayment: None
- Close Date: 8/23/2024
