TBC Headquarters (Single-Tenant) – Acquisition

Southeast, US

$9,500,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to source the acquisition and bridge financing for a single-tenant office building in the Southeastern US leased to TBC Corporation.

Property Description

The property features an additional four-story, 61,000 square-foot office space within the same business park.

Sponsors

The sponsor is a commercial real estate investment firm focused on single tenant net leased projects throughout the country. Tauro has worked with their firm as a capital provider in the past; however, this was the first time presenting this group as a client.

Challenges

  • Short remaining lease term and non-recourse request made all local lenders decline
  • Hurricane Ian affected all the businesses in the Southeast US

Solutions

  • Tauro sourced a non-recourse bridge lender with favorable fixed-rate pricing with interest-only payments
  • Lender was able to close in a timely manner

Funding

  • Loan Amount (LTV): $9,500,000 (61% LTV)
  • Interest Rate: 7.25% Fixed
  • Amortization: Interest-Only
  • Term: 2 Years
  • Recourse: None
  • Prepayment Penalty: None

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Managing Director  | Capital Advisor

714-401-7667

mbucaro@taurocapitaladvisors.com