Black Bear Capital Partners ("BBCP") Secures $5.2M Life Company Refinance for Grocery-Anchored Center in Michigan
1100 West Argyle Street
$5,200,000
$47/SF
Building Size
110,070 SF
Asset Type
Retail
Closing
Jun 28, 2024
AI
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.
Jackson 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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93