LMF Commercial Refinances Mixed-Use Property In Colorado Springs With $28M Loan
2221 East Bijou Street
$28,000,000
$99/SF
Building Size
281,144 SF
Asset Type
Mixed-use
Closing
Jul 28, 2022
About this deal
AI
The mixed-use property located at 2221 E. Bijou St. in Colorado Springs, CO has recently undergone a loan transaction. The property spans a total of 281,144 square feet.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $28,000,000
- Lender: LMF Commercial (A Lennar Co.) - Nihad Choudhury
- Landlord: Shlomo Rosenbaum
- Broker: Isaac Sternhill - IS Realty LLC
The loan transaction involved a refinance of the property. The loan amount for this transaction was $28,000,000. The loan type was CMBS with a 10-year fixed term and a 30-year amortization schedule. The terms also included full cash out.
Players
South Lake Tahoe Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93