FINANCEDRetail
Concord Summit Capital Facilitates $18.5M Cash-Out Refinance Loan For Retail Property In Delray Beach
14802 Military Trail
$18,500,000
$215/SF
Building Size
86,043 SF
Asset Type
Retail
Closing
Jan 23, 2024
AI
The retail property located at 14802 Military Trail in Delray Beach has undergone a loan transaction. The property spans over 86,043 square feet and was involved in a refinance loan.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,500,000
- Loan Type: Refinance
- Loan Terms: Cash-Out Refinance | Fixed Rate | 5 Yr I.O.
The landlord of the property is Michael Kanoff. Representing the landlord in this transaction were Justin Neelis and Daniel Rafael Rojo from Concord Summit Capital.
Players
Delray Beach 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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93