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172 Kitts Lane

Brian Anderson Of Progress Capital Arranges $11M Acquisition Loan In Newington, CT
FINANCEDRetail

Brian Anderson Of Progress Capital Arranges $11M Acquisition Loan In Newington, CT

172 Kitts Lane & 206 Kitts Lane

$11,000,000

$28/SF

Building Size

380,000 SF

Asset Type

Retail

Closing

May 1, 2024

AI

The property located at 172-206 Kitts Lane in Newington, CT, is a retail asset with a square footage of 190,000. The landlord of this property is Kodi Traver. The recent transaction involving this property was a loan for acquisition purposes, with a loan amount of $11,000,000.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $11,000,000
  • Address: 172-206 Kitts Lane
  • Market: Newington, CT
  • Asset Type: Retail
  • Square Footage: 190,000
  • Landlord: Kodi Traver
  • Broker: Brian Anderson - Progress Capital
  • Loan Type: Acquisition

The broker representing the deal for this property transaction is Brian Anderson from Progress Capital.

Players

Brian Anderson

Cushman & Wakefield

Broker

$378.3M

vol

40 deals

Broker

Newington 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

1.44%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93