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| Stephen Stein |
The deals include a $15 million debt facility for a NNN lease developer, as well as acquisition financing for three triple-net-lease deals totaling $5.5 million, all of which closed within the last 30 days.
“We are one of the most active intermediaries in the triple-net-lease sector and have continued to secure and structure quality financing on behalf of our clients throughout the pandemic,” says Stephen Stein, Managing Partner at Tauro Capital Advisors.
“In fact, these deals come on the heels of Tauro securing $50 million in debt facilities for three triple-net-lease developers and investors just last month.”
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| Deryl Deese |
According to Stein, these transactions are demonstrative of a larger trend among sponsors toward NNN lease deals as they tend to be more stabilized assets that perform in times of economic uncertainty.
These recent deals include:
$15 Million Debt Facility for Triple-Net-Lease Developer
Tauro Capital Advisors has secured a $15 million revolving debt facility on behalf of a single-tenant triple-net-leased developer. The facility was arranged by Deryl Deese, Director at Tauro Capital Advisors.
“There is certainly a flight to safety underway among investors and developers, which has resulted in an influx in demand for single-tenant triple-net-lease properties,” explains Deese.
“Because of our depth of expertise in the space, we have been extremely successful in securing 100% financing options for sponsor’s who are looking to expand their construction pipelines.”
The sponsor plans to use the facility to fund developments for national creditworthy tenants including Target and 7-Eleven, among others.
$2.8 Million in Acquisition Financing for a 11,000 Square-Foot Retail Asset
Tauro Capital Advisors has secured $2.8 million in non-recourse financing for the acquisition of an 11,000 square-foot single-tenant retail property on behalf of a private investor based in Los Angeles, CA.
The property is 100% occupied by a CVS. The financing was arranged by Matt Bucaro, Senior Director, Capital Advisor at Tauro Capital Advisors.
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| Matt Bucaro |
The sponsor was looking for financing with no pre-payment penalties in preparation for an upcoming sale of the property.
“At Tauro, we understand that securing financing isn’t always about the interest rate rather the sponsor’s overall goals for the property and over the long-term,” says Bucaro.
“We knew that structuring the financing without any pre-payment penalties was extremely important to the sponsor’s business plan.”
Tauro worked closely with the sponsor who was able to negotiate a 10-year lease extension with the tenant during escrow.
“Because we act more as a partner to our sponsors, we were able to move quickly to secure financing that fit the sponsor’s needs with no prepayment penalties,” says Bucaro.
The five-year loan was priced at 3.65% with a 62% loan-to-value with no prepayment penalties.
$1.4 Million in Acquisition Financing for a 11,232 Square-Foot Retail Asset
Tauro Capital Advisors has secured $1.4 million in acquisition financing for an 11,232 square-foot single-tenant retail property 100% occupied by Rite Aid.
The financing was arranged by Matt Ingle, Associate Director, Capital Advisor at Tauro Capital Advisors on behalf of a private investor. The 10-year loan was priced at 3.9% with a 53% loan-to-value and 25-year amortization.
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| Matt Ingle |
$1.3 Million in Acquisition Financing for a 4,200 Square-Foot Retail Asset
Tauro Capital Advisors has secured $1.3 million in acquisition financing for a 4,200 square-foot single-tenant retail property. The property is 100-percent occupied by Wendy’s. The financing was arranged by Bucaro.
Tauro was able to secure a 15-year loan with a fixed rate for the sponsor.
“Most lenders will typically do a 10-year term max so our ability to extend the term of the loan by an additional five years speaks to our strength as a financial intermediary,” explains Bucaro.
The 15-year fixed loan was priced at 3.95% with a 60% loan-to-value.
Contacts:
Micaela
Fehrenbach/Lexi Astfalk
(949)
438-6262
https://www.taurocapitaladvisors.com.
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