Union Savings Bank Provides $15.25M Refinance Loan For Westport, CT Retail Property
275 Post Road East, Westport, Connecticut 06880, United States
$15,250,000
$381/SF
Building Size
40,000 SF
Asset Type
Retail
Closing
Jun 23, 2022
AI
The retail property located at 275 Post Rd E in Westport, CT has recently undergone a refinancing transaction. The property spans approximately 40,000 square feet and is owned by The HB Nitkin Group.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $15,250,000
- Date: 06/24/2022
- Lender: Union Savings Bank - Jo-Anne Smith
- Landlord: The HB Nitkin Group
- Brokers: Mark Fisher & Alex Furnary - CBRE
Mark Fisher & Alex Furnary from CBRE represented the parties involved in the refinancing deal of this retail property. No further details regarding the transaction were provided.
Players
Westport 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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93