Bellwether Enterprise Secures $6M Refinance Loan For 70,000 SF Retail Center In West Palm Beach
$6,000,000
$85/SF
Building Size
70,000 SF
Asset Type
Retail
Closing
Dec 19, 2023
About this deal
AI
Palm Beach Commons, a 70,000-square-foot retail center located at 1300 North Military Trail in West Palm Beach, has secured a $6 million loan for refinancing. The loan features full-term interest-only payments at a competitive interest rate.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $6,000,000
- Lender: Bellwether Enterprise (BWE)
- Lender's Representatives: Daniel Rosenberg & Logan Petersmeyer
- Loan Type: Refinance
- Loan Terms: 10-year loan with full-term interest-only payments
The loan for Palm Beach Commons was secured by Bellwether Enterprise (BWE), a national mortgage banking company. BWE's representatives, Daniel Rosenberg and Logan Petersmeyer, originated and facilitated the loan process for the retail center.
Players
Market 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93