Gantry Arranges $9.5M Permanent Loan For Plaza North Shopping Center Refinance
201 North Mcdowell Boulevard & 313 North Mcdowell Boulevard
$9,500,000
$47/SF
Building Size
202,000 SF
Asset Type
Retail
Closing
Nov 10, 2023
AI
The Plaza North Shopping Center in Petaluma has secured a $9.5 million permanent loan for refinancing. The retail space spans 101,000 square feet and is home to a diverse range of tenants including Lola's Market, CVS/pharmacy, Starbucks Coffee, GNC, Club Pilates, as well as various fast-food, dining, beauty, retail, and professional service establishments.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $9,500,000
- Address: 201-313 North Mcdowell Boulevard, Petaluma
- Market: Petaluma
- Brokers: Andrew Ferguson, Maria Zwick, & Robert Slatt - Gantry
Gantry assisted in securing the seven-year, fixed-rate, permanent loan for the Plaza North Shopping Center. The loan will allow for a refinancing of the property, providing financial stability for the retail space and its tenants.
Players
Petaluma 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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93