Bridge Investment Group And Lowe Property Group Refinance Post District In Salt Lake City For $157.5M
$157,500,000
$6,057/SF
Building Size
26,000 SF
Asset Type
Mixed-use
Closing
Nov 30, 2023
AI
Bridge Investment Group and Lowe Property Group have secured $157.5 million in refinancing for Post District, a mixed-use development located at 575 South 300 West in downtown Salt Lake City, UT. The property spans 26,000 square feet and includes a variety of uses.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $157,500,000
- Address: 575 South 300 West, Salt Lake City, UT
- Market: Salt Lake City, UT
The loan for the refinancing was provided by Len O'Donnell from Affinius Capital and David J Gilbert from Clarion Partners. The landlord for the property is Jonathan Slager from Bridge Investment Group and Ben Lowe from Lowe Property Group. The brokers involved in the deal are Aaron Appel, Adam Schwartz, Jonathan Schwartz, Keith Kurland, Mo Beler, Sean Reimer, and William Herring from Walker & Dunlop.
Players
Market Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93