Ventura Multifamily – Development

Ventura, CA

$53,365,000

Funding Purpose

Tauro Capital Advisors, Inc. was engaged on an exclusive basis to initially place common equity, but then transitioned to placing senior debt for the modular construction of a mixed-use development and ground-floor retail.

Property Description

The mixed-use development consists of 125 residential units and 10,000 square feet of ground-floor retail.

Sponsors

The sponsor is experienced in modular construction with three finished projects in the last five years and two more in progress.

Challenges

  • There are usually extra steps involved in securing enough funding as modular properties are not considered traditional buildings.

Solutions

  • Loan was secured through two lenders that were able to provide favorable terms, meeting the client’s requirements.

Funding

  • Loan Amount (LTV): $52,365,000 (subject to change based on updated stabilized value)
  • Loan-to-Cost: 85%
  • Interest Rate: 8.31%
  • Term: 24 Months

Director  | Capital Advisor

310-966-0025

fpaparella@taurocapitaladvisors.com

Managing Director  | Capital Advisor

714-401-7667

mbucaro@taurocapitaladvisors.com

Director  | Capital Advisor

617-953-6394

ayoushaei@taurocapitaladvisors.com

Senior Director  | Capital Advisor

310-426-8080

ajohnston@taurocapitaladvisors.com