Valley Multifamily Development – Construction

Van Nuys, CA

$1,280,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to place debt for the refinance of three contiguous parcels located in Van Nuys, CA.

Property Description

The assets consist of an auto center, a non-revenue-generating parking lot, and a fully leased, 4-unit residential property. In total, there’s nearly 23,000 square feet.

Sponsors

The sponsor is an experienced real estate investor specializing in value-add multifamily and office assets. He has strong financials.

Challenges

  • Sponsor wants great terms and proceeds in order to re-develop the properties for future use.

Solutions

  • Funding secured with a California based credit union that gave great terms.

Funding

  • Loan to Value: 65%
  • Interest Rate: 4.25%
  • Amortization: 25 years
  • Term: 5 years
  • Recourse: Non-recourse
  • Prepayment: Step-down

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com

Senior Director  | Capital Advisor

310-426-8080

ajohnston@taurocapitaladvisors.com