Black Bear Capital Partners Arranges $5.5M Refinance Loan For Two CVS Pharmacy Retail Properties In Inverness & Tavare, FL
602 Main Street, Inverness, Florida 34450, United States
$5,500,000
$252/SF
Building Size
21,816 SF
Asset Type
Retail
Closing
Jun 2, 2022
About this deal
AI
The two CVS Pharmacy retail properties located at 602 West Main Street and 550 West Burleigh Blvd (US 441) in Inverness and Tavare, FL have recently undergone a refinancing transaction. These properties span a collective 21,816 square feet. The refinance was facilitated by Eric Trombly from Black Bear Capital Partners.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $5,500,000
The refinancing involved a 5-year non-recourse fixed rate loan at an LTV ratio of 65%. The loan terms also include 4 years of interest-only payments. This transaction allows the property owners to take advantage of favorable market conditions and secure financing to support their ongoing operations.
Inverness Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Visit Eric Trombly to view all their deals.
Browse Florida retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93