GreenLake Asset Management Provides $34.4M Refinance And Construction Loan For Shelton, CT Retail Center
801 Bridgeport Ave Shelton, CT 06484, USA
$34,400,000
Building Size
—
Asset Type
Development Site
Closing
Jun 21, 2023
AI
In Shelton, CT, a recent closed property transaction involved a development site located at 801 Bridgeport Avenue. The property, known as the Fountain Square retail center, was the subject of a $34.4 million refinance and construction loan provided by GreenLake Asset Management LLC.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $34,400,000
- Lender: GreenLake Asset Management LLC - Peter Chang
- Loan Type: Refinance & Construction loan
GreenLake Asset Management LLC, known for their expertise in short-term commercial bridge loans, offered their flexible capital solutions for this real estate special situation. Led by Peter Chang, the loan was structured as a refinance and construction loan, providing the necessary funds for the development of the Fountain Square retail center.
Players
Shelton Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93