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.
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