Acquisition & Development – STNL Bojangles

South Central, US

$2,800,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the acquisition and development of a new restaurant.

Property Description

The existing restaurant property is being repurposed and leased to Bojangles for a new location.

Sponsors

The sponsor is a privately held real estate firm that specializes on delivering premiere net lease retail developments.

Challenges

  • Borrower required maximum loan proceeds
  • Current market conditions constraining loan amount and increasing pricing

Solutions

  • Tauro sourced new capital partner willing to provide 100% LTC construction debt
  • Tauro’s expertise in the space created competition amongst capital providers, leading to a more favorable payment structure
  • Favorable prepayment structure allows sponsor to minimize cost of sale

Funding

  • Loan to Cost: 100%
  • Interest Rate: 10.8%
  • Term: 12 Months
  • Recourse: Less than 10% personal guaranty plus standard carve-outs
  • Prepayment: 6 Months

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com