Updated Nov 27, 2024
Marcus & Millichap Capital Refinances Retail Property In Norwalk For $9.31M
6 Willard Road, Norwalk, CT 06851
$9,310,000
Building Size
—
Asset Type
Retail
Closing
Dec 22, 2021
About this deal
AI
A retail property located at 6 Willard Road in Norwalk, CT, was recently involved in a refinancing transaction. The loan for this property was provided by Marcus & Millichap Capital Corporation, with Chris Marks acting as the lender's representative. The total loan amount was $9,310,000, and it was obtained for the purpose of refinancing the property's existing debt.
Summary of transaction details
- Property Type: Retail
- Loan Amount: $9,310,000
- Loan Type: Refinancing
- Loan Terms: interest rate of 3.07 percent with an LTV of 70 percent, a term of 10 years, and an amortization of 25 years
- Lender: Marcus & Millichap Capital Corporation - Chris Marks
Chris Marks, representing Marcus & Millichap Capital Corporation, played a crucial role in facilitating this refinancing deal for the retail property located at 6 Willard Road in Norwalk, CT. Their expertise and negotiation skills contributed to the successful completion of the transaction.
Players
Norwalk 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
1.70%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93