LendingClub Bank Provides $7.6M Refinance Loan For Walmart-Anchored Retail Strip In Indianapolis, IN
FINANCED
$7,600,000
Indiana
See Similar DealsRetail78,702 SF
Financed 07/22/2022
FINANCED
LendingClub Bank Provides $7.6M Refinance Loan For Walmart-Anchored Retail Strip In Indianapolis, IN
7423 US Route 31
See Similar DealsRetail78,702 SF
Financed 07/22/2022
Summary
INDIANA
Asset Type:Retail
Price Per Square Foot:$96
Total Square Footage:78,702 SF
Transaction Type:Loan
The property involved in this closed transaction is a retail asset located at 7423 US 31 Highway in Indianapolis, IN. The property spans 78,702 square feet and is owned by Singleton Properties.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,600,000
- Market: Indianapolis, IN
- Lender: LendingClub Bank
- Broker: Matthew Stearns -
- Loan Type: Refinance
The property was financed through a loan provided by LendingClub Bank. The loan amount is $7,600,000, and it was obtained for the purpose of refinancing the property. The loan terms include a 10-year fixed rate at 5.25% interest with a loan-to-value (LTV) ratio of 65%.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,600,000.00
Monthly NOI$50,666.67
Monthly Debt Service$48,037.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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