FINANCEDRetail
Eastern Union Provides $7M Loan For Acquisition Of Retail Property In Birmingham
7001 Crestwood Boulevard, Birmingham, Alabama 35210, United States
$7,040,207
$23/SF
Building Size
299,707 SF
Asset Type
Retail
Closing
Sep 12, 2022
AI
A retail property located at 7001 Crestwood Blvd in Birmingham, AL has been involved in a recent loan transaction. The property spans 299,707 square feet and is owned by CityWide Properties.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,040,207
- Lender: Eastern Union - Marc Tropp
- Loan Type: Acquisition
- Loan Terms: Interest rate fixed at 4.6 percent
Marc Tropp from Eastern Union acted as the lender for this transaction.
Players
Birmingham Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.25%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93