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
About this deal
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.
On the Map
$18,500,000
$215/SF
Retail
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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