Calmwater Capital Provides $26M Refinance Loan For Retail Properties On Boardman Rd And Merle Hay Rd In Jackson, Michigan And Des Moines, Iowa
1250 Boardman Road
$26,000,000
$68/SF
Building Size
377,544 SF
Asset Type
Retail
Closing
Nov 18, 2022
About this deal
AI
A retail property located at 1250 Boardman Rd in Jackson, Michigan and 4100 Merle Hay Rd in Des Moines, Iowa has recently undergone a refinancing transaction. The property spans a total area of 377,544 square feet, making it a sizable retail asset in the area.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $26,000,000
- Loan Type: Refinance
- Lender: Calmwater Capital
- Broker: Anthony Longo - Alpha Capital
In this refinancing deal, Calmwater Capital provided a loan amount of $26,000,000 to the property owner. Leading the transaction on behalf of the borrower was broker Anthony Longo from Alpha Capital.
Players
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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93