Paradigm Commercial Real Estate Facilitates $16.5M Acquisition Loan For Office Property In Farmington, CT
FINANCED
$16,500,000
Connecticut
See Similar DealsOffice224,551 SF
Financed 08/09/2023
FINANCED
Paradigm Commercial Real Estate Facilitates $16.5M Acquisition Loan For Office Property In Farmington, CT
74 Batterson Park Rd Farmington, CT 06032, USA
See Similar DealsOffice224,551 SF
Financed 08/09/2023
Summary
CONNECTICUT
Asset Type:Office
Price Per Square Foot:$73
Total Square Footage:224,551 SF
Transaction Type:Loan
A property transaction involving an office asset in Farmington, CT has taken place at 74 & 76 Batterson Park Rd. The office space spans a total of 224,551 square feet and is part of an acquisition deal.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $16,500,000
- Loan Type: Acquisition
- Loan Terms: 5-year term, 6.43% fixed, 30-year amortization
The transaction was facilitated by Adrian Edery and Sara Frankel from Paradigm Commercial Real Estate, who served as brokers in the deal. They were instrumental in bringing together the buyer and seller, ensuring a smooth transaction process.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,500,000.00
Monthly NOI$110,000.00
Monthly Debt Service$104,291.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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