Updated Oct 28, 2024
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
About this deal
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.
On the Map
$15,250,000
$381/SF
Retail
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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