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Tauro Capital Advisors Funds $7M Acquisition Loan For Self Storage In Auburn, AL

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FINANCED
$7,000,000

Alabama

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Self Storage56,788 SF
Financed 03/28/2024
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Property Image
FINANCED

Tauro Capital Advisors Funds $7M Acquisition Loan For Self Storage In Auburn, AL

1946 East Glenn Avenue

See Similar Deals
Self Storage56,788 SF
Financed 03/28/2024
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Summary

ALABAMA
Asset Type:Self Storage
Price Per Square Foot:$123
Total Square Footage:56,788 SF
Transaction Type:Loan

The property involved in the transaction is a Self Storage asset located at 1946 East Glenn Avenue in Auburn, AL. Spanning 56,788 square feet, the property was acquired by Bryan French. The loan for this acquisition was provided by Tauro Capital Advisors, amounting to $7,000,000. Garryn Laws and Matthew Bucaro from Tauro Capital Advisors represented the deal as brokers.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $7,000,000
  • Address: 1946 East Glenn Avenue
  • Market: Auburn, AL
  • Lender: Tauro Capital Advisors
  • Landlord: Bryan French
  • Brokers: Garryn Laws & Matthew Bucaro - Tauro Capital Advisors
  • Loan Type: Acquisition Loan

During the closing of the deal, the borrowers' relationship lender unexpectedly pulled out, leaving Bryan French in a challenging position. Fortunately, Garryn Laws and Matthew Bucaro from Tauro Capital Advisors swiftly facilitated a new arrangement with Tauro Capital Advisors to ensure the completion of the transaction within a tight deadline of 14 days.

Players

Matthew "Matt" Bucaro
12 deals$304.3M volume
BROKER

Garryn Laws
Convoy Capital
8 deals$209.6M volume
BROKER

Tauro Capital Advisors
LENDER

Details

FINANCED
IMAGE: Garryn Laws & Matthew Bucaro DATE: 03/28/2024 ADDRESS: 1946 East Glenn Avenue MARKET: Auburn, AL ASSET TYPE: Self Storage ~ SF: 56,788 LENDER: Tauro Capital Advisors LANDLORD: Bryan French BROKERS: Garryn Laws (@GLaws88) & Matthew Bucaro - Tauro Capital Advisors LOAN AMOUNT: $7,000,000 LOAN TYPE: Acquisition Loan NOTE FROM BROKERS: Borrowers relationship lender left them at the closing table and we had to find a lender to close within 14 days.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00