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Black Bear Capital Partners ("BBCP") and First Internet Bank have approved a $1.3 million refinancing loan for GB Property Management’s retail asset located in Algonquin.

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FINANCED
$1,300,000

Illinois

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Retail3,000 SF
Financed 05/28/2025
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FINANCED

Black Bear Capital Partners ("BBCP") and First Internet Bank have approved a $1.3 million refinancing loan for GB Property Management’s retail asset located in Algonquin.

10 South Randall Road

See Similar Deals
Retail3,000 SF
Financed 05/28/2025
Contact now

Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$433
Total Square Footage:3,000 SF
Transaction Type:Loan

The property asset involved in this transaction is a retail space located at 10 South Randall Road, Algonquin, IL. The asset spans a total of 3,000 square feet and is occupied by a 7-Eleven store. The refinancing for this property was arranged for a total loan amount of $1,300,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,300,000
  • Loan Type: Refinance
  • Loan Terms: 5-year fixed rate loan, followed by a 20-year amortization schedule
  • Lender: First Internet Bank
  • Landlord: GB Property Management
  • Landlord's Representative: Matthew Stearns, Michael Bernstein & Zach Lutwak-Fitzgerald - Black Bear Capital Partners

Key individuals involved in this deal include the representatives from Black Bear Capital Partners, who facilitated the refinancing process for the landlord, GB Property Management. The representatives are Matthew Stearns, Michael Bernstein, and Zach Lutwak-Fitzgerald, highlighting their roles in securing the refinancing agreement for the retail property.

Players

Matthew (Matt) Stearns
33 deals$895.4M volume
BROKER

Zach Lutwak-Fitzgerald
Black Bear Capital Partners
28 deals$787.9M volume
BROKER

Michael Bernstein
Black Bear Capital Partners
13 deals$478.9M volume(520) 330-1002
BROKER

Details

FINANCED
IMAGE: Zach Lutwak-Fitzgerald, Matthew Stearns & Michael Bernstein DATE: 5/28/2025 ADDRESS: 10 South Randall Road MARKET: Algonquin, IL ASSET TYPE: Retail ~ SF: 3,000 LENDER: First Internet Bank LANDLORD: GB Property Management LANDLORD'S REP: Matthew Stearns, Michael Bernstein & Zach Lutwak-Fitzgerald (@ZFitzgerald40) - Black Bear Capital Partners (@BlackBearCapitalPartners) LOAN AMOUNT: $1,300,000 LOAN TYPE: Refinance LOAN TERMS: Refinance of 3,000 SF 7-Eleven with a 5-year fixed rate loan, followed by a 20-year AM

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,300,000.00

Monthly NOI$8,666.67
Monthly Debt Service$8,216.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00