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
About this deal
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.
The retail loan at 7001 Crestwood Boulevard, Birmingham, Alabama 35210, United States in Birmingham, Alabama financed for $7M in 2022. The building is 299,707 square feet, implying about 23 per square foot on the published price. Eastern Union appears on the loan alongside Eastern Union. This page is the Birmingham, Alabama file for the 7001 Crestwood Boulevard, Birmingham, Alabama 35210, United States retail financed: pricing, party profiles, and other closed retail comps from the same Birmingham sit in the Market section below. Filter that Birmingham retail set by closing date to see what else financed near 7001 Crestwood Boulevard, Birmingham, Alabama 35210, United States around 2022. Published consideration for 7001 Crestwood Boulevard, Birmingham, Alabama 35210, United States is $7M, dated 2022. Cite this Eastern Union Provides $7M Loan For Acquisition Of Retail Property In Birmingham loan when underwriting similar retail product around Birmingham, Alabama.
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