Mindy Bergman Of Meridian Capital Group Secures $3.6M Refinance For Retail Asset In New Castle
525 South Memorial Drive
$3,600,000
$37/SF
Building Size
96,648 SF
Asset Type
Retail
Closing
Jun 28, 2024
About this deal
AI
The property asset involved in this transaction is located at 525 South Memorial Drive in New Castle, IN. It is classified as a retail asset with a total square footage of 96,648. The loan amount secured for this property was $3,600,000 as part of a refinance transaction that took place on June 27, 2024.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,600,000
- Loan Type: Refinance
- Broker: Mindy Bergman
- Broker Agency: Meridian Capital Group
This transaction highlights the involvement of Mindy Bergman from Meridian Capital Group, who acted as the broker in the deal, facilitating the refinance process for the property at 525 South Memorial Drive.
On the Map
$3,600,000
$37/SF
Retail
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New Castle Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93