Walgreens Portfolio – Refinance

East, US

$150,000,000

Funding Purpose

Tauro Capital Advisors was engaged on an exclusive basis to place a loan for the cash-out refinance of a portfolio of 24 Walgreens along the East Coast of the US.

Property Description

With over 20 different properties ranging in age and size, this portfolio is diverse as well as profitable with many of the locations being situated along major highways and in well populated areas.

Sponsors

The sponsor is a highly backed group who is no stranger to real estate investing. The Chairman, CEO, and Co-founder of the group have taken the company in many different directions from real estate to insurance to pharmaceuticals.

Challenges

  • Finding a finance provider who could lend out such a large amount of money with reasonable terms.
  • As more properties were added to the portfolio, securing funding became harder.

Solutions

  • Tauro was put in contact with a lender who loans out up to $250 million with acceptable terms and conditions.
  • The selected lender was comfortable with handling large portfolios such as this one.

Funding

  • Loan Amount: $150,000,000
  • Interest Rate: 4.50%
  • Term: 2 years
  • Recourse: Non-recourse
  • Interest Only: 24 months

Managing Director  | Capital Advisor

714-401-7667

mbucaro@taurocapitaladvisors.com

Associate Director  | Capital Advisor

714-225-3165

ealvarez@taurocapitaladvisors.com

Associate Director  | Capital Advisor

714-402-1210

mtbucaro@taurocapitaladvisors.com