Student Housing – Acquisition

Southwest, US

$1,800,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to find acquisition financing for a student housing multifamily property.

Property Description

The property is a 16-unit multifamily building in the Southwestern US just off campus from a major university.

Sponsors

The sponsors are well-versed in real estate investing with a portfolio of multifamily properties in Los Angeles, and purchased this property as part of a 1031-exchange.

Challenges

  • There’s high turnover in the building since 40% of the resident are students.
  • The sponsor was up against the 1031-exchange deadline.

Solutions

  • A loan was secured through a smaller lender that was able to provide good terms meeting the client’s requirements.

Funding

  • Loan-to-Value (LTV): 70%
  • Amortization: 30 Years
  • Term: 15 Years
  • Recourse: Non-recourse
  • Prepayment: No penalty

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com