TCA Capital Provides $8.95M Refinance Loan For Retail Property At 2900 John R Rd
FINANCED
$8,950,000
Michigan
See Similar DealsRetail227,500 SF
Financed 10/16/2024
FINANCED
TCA Capital Provides $8.95M Refinance Loan For Retail Property At 2900 John R Rd
Detroit
See Similar DealsRetail227,500 SF
Financed 10/16/2024
Summary
MICHIGAN
Asset Type:Retail
Price Per Square Foot:$39
Total Square Footage:227,500 SF
Transaction Type:Loan
The property asset involved in this transaction is a retail space located at 2900 John R Rd in Madison Heights, MI. The total area of the asset is 227,500 square feet and it is a significant part of the local market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,950,000
- Lender: TCA Capital
- Landlord: Jeffrey Stewart
- Loan Type: Refinance
- Brokers: Garryn Laws - Convoy Capital; Matthew Bucaro - Tauro Capital Advisors
This transaction involves key individuals such as Garryn Laws and Matthew Bucaro, who represent the brokerages Convoy Capital and Tauro Capital Advisors, respectively. They played crucial roles in facilitating the refinancing process for the landlord Jeffrey Stewart and securing the loan from TCA Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,950,000.00
Monthly NOI$59,666.67
Monthly Debt Service$56,570.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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