CBRE Arranges $15.2M Refinance Loan For Shoppes Of Southbay In Riverview
10655 Big Bend Road
$15,200,000
$152/SF
Building Size
99,542 SF
Asset Type
Retail
Closing
Sep 25, 2023
AI
The fully leased Shoppes of Southbay, a 99,542-square-foot retail center located at 10655 Big Bend Road in Riverview, has been refinanced with a loan amount of $15.2 million. The property is owned by a partnership between Peter Wenzel of Wenzel Investment Group and Victor Ferraez, who acquired the property in 2013.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $15,200,000
- Square Footage: 99,542
- Address: 10655 Big Bend Road
- Market: Riverview
- Landlord: Peter Wenzel - Wenzel Investment Group
- Brokers: Paul Ahmed & Mackenzie Lampman - CBRE
CBRE has arranged the $15.2 million loan for the refinancing of Shoppes of Southbay. The loan was secured for the partnership between Peter Wenzel and Victor Ferraez, demonstrating their commitment to the property since acquiring it in 2013.
Players
Riverview 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