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Merchants Bank Provides $19.1M Loan For Mall West End Redevelopment In Atlanta
FINANCED
$19,100,000
Georgia
See Similar DealsRetail
Financed 12/06/2024
FINANCED
Merchants Bank Provides $19.1M Loan For Mall West End Redevelopment In Atlanta
850 Oak Street Southwest
See Similar DealsRetail
Financed 12/06/2024
Summary
GEORGIA
Asset Type:Retail
Transaction Type:Loan
The property involved is located at 850 Oak Street Southwest in Atlanta, GA. It is categorized as a retail asset. The loan secured for this acquisition is $19,100,000, facilitating the redevelopment of a significant site, which is part of a $450M mixed-use project.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $19,100,000
- Loan Type: Acquisition
- Lender: Merchants Bank
- Landlord: Meredith Marshall - BRP Companies & Andrew Katz - The Prusik Group
The deal was facilitated by Merchants Capital, which played a significant role in securing the land acquisition loan necessary for the redevelopment initiative led by BRP Companies and The Prusik Group at the site of the historic Mall West End in Atlanta.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$19,100,000.00
Monthly NOI$127,333.33
Monthly Debt Service$120,724.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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