FINANCEDRetail
Cuna Mutual Life Provides $15.1M Refinance Loan For Lakeland & Ocoee Retail Property
2300 Griffin Rd, Lakeland, FL, USA
$15,120,000
$111/SF
Building Size
136,020 SF
Asset Type
Retail
Closing
Sep 9, 2021
AI
Halberstein Investments, led by Daniel Halberstein, has refinanced a retail property located at 2300 Griffin Rd and 1700 E Silver Star Rd in Lakeland and Ocoee. The property spans a total of 136,020 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $15,120,000
- Lender: Cuna Mutual Life
- Landlord: Halberstein Investments - Daniel Halberstein
- Brokers: Paul Ahmed & Mackenzie Fry - CBRE
Paul Ahmed and Mackenzie Fry, representing CBRE, facilitated the refinance deal for this retail property.
Players
Lakeland 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
1.05%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93