Garrett Fierstein Of Marcus & Millichap Secures $7.63M Loan For Franklin Commons Retail Center

The asset involved in this transaction is a retail property located at 1010 North Morton Street in Franklin, IN. The property encompasses a total square footage of 85,980 and is a part of the retail market. The secured loan amount for this property is $7,630,000 with specific loan terms, including a 5-year term, a 6.5% interest rate, a 25-year amortization period, and a loan-to-value ratio of 70%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,630,000
• Loan Terms: 5-year loan, 6.5% interest rate, 25-year amortization period, 70% loan-to-value
• Address: 1010 North Morton Street
• Market: Franklin, IN
• Broker: Garrett Fierstein - Marcus & Millichap

Garrett Fierstein of Marcus & Millichap was instrumental in arranging the financing for this transaction. His representation was critical in securing funding for the Franklin Commons retail center, supported by the property's strong tenant base and advantageous location.