Black Bear Capital Partners ("BBCP") Secures $5.2M Life Company Refinance for Grocery-Anchored Center in Michigan
FINANCED
$5,200,000
Michigan
See Similar DealsRetail110,070 SF
Financed 06/28/2024
FINANCED
Black Bear Capital Partners ("BBCP") Secures $5.2M Life Company Refinance for Grocery-Anchored Center in Michigan
1100 West Argyle Street
See Similar DealsRetail110,070 SF
Financed 06/28/2024
Summary
MICHIGAN
Asset Type:Retail
Price Per Square Foot:$47
Total Square Footage:110,070 SF
Transaction Type:Loan
The property involved is a 110,070 square foot retail asset located at 1100 West Argyle Street in Jackson, MI. The asset, a grocery-anchored shopping center, was refinanced with a loan amount of $5,200,000 provided by a life company.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $5,200,000
- Address: 1100 West Argyle Street
- Market: Jackson, MI
Scott Modelski of Black Bear Capital Partners represented the deal as the broker. The loan, a refinance, had a 5-year fixed rate term.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,200,000.00
Monthly NOI$34,666.67
Monthly Debt Service$32,867.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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