Alpha Capital CRE Secures $28M Refinance Loan For Retail Properties In Fallon Nevada, Manitowoc Wisconsin, And Rockford IL With Lender RRA
2105 West Williams Avenue, Fallon, Nevada 89406, United States
$28,000,000
Building Size
—
Asset Type
Retail
Closing
Oct 28, 2022
About this deal
AI
The property asset involved in this closed transaction is a retail property located at 2105 Williams Ave, Manitowoc, Wisconsin; 3415 Calumet Ave, Manitowoc, Wisconsin; and 6260-6380 E State St, Rockford, Illinois. The transaction took place in Fallon, Nevada; Manitowoc, Wisconsin; and Rockford, Illinois markets. The property type is retail.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $28,000,000
- Loan Type: Refinance
- Loan Terms: $28M non-recourse loan with one extension option. In addition to refinancing the existing debt, the loan includes follow-on funding for tenant improvements and leasing commissions.
The lender involved in this transaction is RRA. Anthony Longo from Alpha Capital CRE acted as the broker for the deal.
Players
Fallon 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93