Vacant Sears Building and Auto Outparcel – Bridge Acquisition

Ventura, CA

$4,100,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place a bridge loan for the acquisition of a vacant former Sears building and outparcel now leased to 4-Wheel Parts.

Property Description

The property is part of Pacific View Mall totaling 886,000 square feet of retail.

Sponsors

The sponsor has over 20 years of experience providing brokerage, leasing, property management, and consulting services to retailers and retail property owners.

Challenges

  • Change in GP ownership structure forced a last-minute pivot in capital providers.

Solutions

  • Tauro sourced a lender open to new GP structure with the ability to close in 5 business days per the PSA timeline.

Funding

  • Loan-to-Value: 70%
  • Interest Rate: Prime + 450 Basis Points
  • Term: 18 Months
  • Amortization: Interest Only
  • Prepayment: No Penalty

Senior Director  | Capital Advisor

310-903-2806

tfesta@taurocapitaladvisors.com

Managing Director  | Capital Advisor

714-401-7667

mbucaro@taurocapitaladvisors.com