Concord Summit Capital Arranges $18.1M Cash-Out Refinance Loan For Boca Raton Retail Property
FINANCED
$18,145,000
Florida
See Similar DealsRetail80,000 SF
Financed 12/19/2022
FINANCED
Concord Summit Capital Arranges $18.1M Cash-Out Refinance Loan For Boca Raton Retail Property
7775 Glades Road
See Similar DealsRetail80,000 SF
Financed 12/19/2022
Summary
FLORIDA
Asset Type:Retail
Price Per Square Foot:$226
Total Square Footage:80,000 SF
Transaction Type:Loan
The retail property located at 7775 Glades Road in Boca Raton has recently undergone a refinancing loan transaction. The property, spanning 80,000 square feet, was part of a loan deal facilitated by Berta Management Of Florida.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,145,000
- Loan Type: Refinancing Loan
- Loan Terms: Cash-Out Refinance | Fixed Rate | 10 Yr I.O.
The loan was secured by Justin Neelis and Daniel Rafael Rojo of Concord Summit Capital, representing the landlord, Berta Management Of Florida. This refinancing loan agreement offers the landlord the opportunity to access cash-out funds while benefiting from a fixed interest rate and a 10-year interest-only period.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$18,145,000.00
Monthly NOI$120,966.67
Monthly Debt Service$114,688.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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