LendingClub Bank Provides $7.6M Refinance Loan For Walmart-Anchored Retail Strip In Indianapolis, IN
7423 US Route 31
$7,600,000
$96/SF
Building Size
78,702 SF
Asset Type
Retail
Closing
Jul 22, 2022
AI
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%.
Players
South Bend 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
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93