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PSRS Secures $4 Million Refinance Loan For Retail Property Occupied By Tractor Supply Co
FINANCED
$4,000,000
California
See Similar DealsRetail21,702 SF
Financed 10/28/2024
FINANCED
PSRS Secures $4 Million Refinance Loan For Retail Property Occupied By Tractor Supply Co
4091 Mitchell Road
See Similar DealsRetail21,702 SF
Financed 10/28/2024
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$184
Total Square Footage:21,702 SF
Transaction Type:Loan
The property asset involved in this transaction is a 21,702-square-foot retail property located at 4091 Mitchell Road in the Ceres market. This asset is currently occupied by Tractor Supply Co. and includes the newly built Fusion Garden Center and outdoor sales area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,000,000
- Loan Type: Refinance
- Loan Terms: Five-year, non-recourse
- Brokers: Kostas Kavayiotidis & Matthew Farzinpour - PSRS- Pacific Southwest Realty Services
This refinancing deal was arranged by PSRS through a correspondent life insurance company, providing funding for the property at Ceres Gateway Center, which is integral to the retail presence in the area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,000,000.00
Monthly NOI$26,666.67
Monthly Debt Service$25,282.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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