Southern Bank Provides $2.5M Loan For Anna Package Deal

Felix Raiber, the landlord, secured a loan from Southern Bank for a package deal transaction in Anna. The property assets included in the package deal are located at 80 Knupp School Road, 103 East Street, 105 Jenny Lane, 110 Jenny Lane, 203 Lafayette Street, and 226 East Avenue. The loan amount provided by Southern Bank was $2,500,000. The loan terms included an 80% loan-to-value ratio, a fixed interest rate of 3.95%, no PPP, a 5-year term, and a 20-year amortization. The portfolio of 6 Community Integrated Living Arrangements (CILA) was part of this transaction.

Summary of transaction details

• Property Type: Package Deal
• Transaction Amount: $2,500,000
• Loan Terms: 80% LTV, 3.95% fixed, No PPP, 5 year term, 20 year amortization
• Address: 80 Knupp School Road, 103 East Street, 105 Jenny Lane, 110 Jenny Lane, 203 Lafayette Street, & 226 East Avenue
• Market: Anna
• Lender: Southern Bank
• Landlord: Felix Raiber

The broker representing Felix Raiber in this deal was Zachary Shavolian from Paradigm Commercial Real Estate.