Meridian Capital Group Arranges $6.4M Refinance Loan For Islandia Retail Property
1968 Veterans Memorial Highway
$6,400,000
$322/SF
Building Size
19,828 SF
Asset Type
Retail
Closing
Aug 23, 2022
About this deal
AI
The retail property located at 1966-1968 Veterans Memorial Highway in Islandia was involved in a recent transaction. The property spans across 19,828 square feet and served as the asset in the deal.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $6,400,000
- Date: 08/24/2022
- Market: Islandia
- Brokers: Matt Buggenhagen & Jason Labriola - Meridian Capital Group
The transaction involved a refinancing loan worth $6,400,000. The loan terms include a 5-year term, 30-year amortization, 4.25% interest rate, non-recourse, and an open prepayment option.
Players
Islandia 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93