Secures $14.4M Acquisition Loan For Augusta Retail Property
3412 Wrightsboro Rd
$14,400,000
$117/SF
Building Size
122,350 SF
Asset Type
Retail
Closing
Dec 2, 2022
About this deal
AI
The retail property located at 3412 Wrightsboro Rd in Augusta was recently involved in a closed transaction. The property was acquired with an acquisition loan from a regional bank. The loan amount for this transaction was $14,400,000, representing 75% of the property's loan-to-value (LTV) ratio. The loan terms include a 4.95% interest rate, a 12-month interest-only period, and a 25-year amortization schedule with no prepayment penalties.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $14,400,000
- Address: 3412 Wrightsboro Rd, Augusta
- Market: Augusta
served as the landlord in this transaction, while Robert Bhat from Marcus & Millichap acted as the broker. The involvement of Robert Bhat was crucial as he facilitated the financing through a regional bank that offered a much lower interest rate compared to the market. This lender is actively seeking more loans and interested parties can reach out to Robert Bhat by email at [email protected] to further discuss financing options.
Thomson 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
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93