Hendricks Commercial Properties And Kimco Realty Secure $104M Refinance From Blackstone In Lexington KY
120 Summit At Fritz Farm
$104,000,000
$315/SF
Building Size
330,077 SF
Asset Type
Retail
Closing
Oct 16, 2026
About this deal
AI
The property asset involved in this transaction is a retail space located at 120 Summit at Fritz Farm in Lexington, KY. The total square footage of the asset is 330,077 and the transaction involves a refinance loan amounting to $104,000,000.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $104,000,000
- Address: 120 Summit at Fritz Farm
- Market: Lexington, KY
- Asset Size: 330,077 SF
- Lender: Stephen Schwarzman - Blackstone
- Borrowers: Rob Gerbitz - Hendricks Commercial Properties & Conor Flynn - Kimco Realty
- Landlord's Representatives: Jordan Roeschlaub, Christopher Kramer, Dan Axelson & Lance Tillman - Newmark
- Loan Type: Refinance
This transaction highlights the collaboration between key figures in the commercial real estate sector, including the involvement of Stephen Schwarzman representing Blackstone as the lender, while Rob Gerbitz and Conor Flynn represent the borrowing entities, Hendricks Commercial Properties and Kimco Realty respectively. The landlord’s interests are represented by Jordan Roeschlaub, Christopher Kramer, Dan Axelson, and Lance Tillman from Newmark.
On the Map
$104,000,000
$315/SF
Retail
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Players
Lexington 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93