Townhome Community Acquisition

Southeast, US

$3,410,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt on the acquisition of a townhome community as part of a 1031 exchange.

Property Description

The asset consists 88 condo units across two properties.

Sponsors

The sponsor has real estate experience dating back to 1975 investing in multifamily properties around Southern California with his father.

Challenges

  • Sponsor up against a 1031 exchange deadline.

Solutions

  • Funding secured with a debt source that was able to give the sponsor his required terms to comfortably invest in the multifamily communities.

Funding

  • Loan to Value: 65%
  • Interest Rate: 4.99%
  • Amortization: 30 years
  • Term: 15 years
  • Recourse: Carve-outs
  • Prepayment: Yield Maintenance

Co-Founder  | President | Capital Markets Group

213-268-4006

sstein@taurocapitaladvisors.com