STNL Neuragenex – Acquisition & Development

South, US

$5,300,000

Funding Purpose

Tauro Capital Advisors assisted a CRE development firm by placing 75% LTC financing in order to purchase a vacant retail location and redevelop into a Neuragenex treatment center.

Property Description

The property is located on a 1.24-acre site in a high-growth suburb. It is fully leased to Neuragenex and will be built-to-suit for their pain-management facility.

Sponsors

The sponsor is a highly experienced vertically-integrated commercial real estate development firm who specializes in retail and build-to-suit developments nationwide.

Challenges

  • Neuragenex is a relatively new tenant moving into their first standalone locations this year with aggressive growth plans. This caused hesitation among capital providers especially given the current votality in the market.

Solutions

  • Given the breadth of capital providers and true expertise in the development financing market, Tauro fostered a relationship with an emerging capital provider in the space.

Funding

  • Loan Amount: $5,300,000
  • Loan-to-Cost: 75%
  • Interest Rate: 3-Month Term SOFR + 6%
  • Recourse: Non-Recourse
  • Prepayment: 10 Months
  • Interest Only: Full Term of the Loan

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Senior Director  | Capital Advisor

310-654-0683

pdavidovac@taurocapitaladvisors.com

Senior Director  | Capital Advisor

858-337-7345

mmueller@taurocapitaladvisors.com