CapStar Bank Provides $4.9M Loan For Retail Property In Buffalo, NY With Broker Yaakov Zar & Gunnar Wilmot Of EvCapital
FINANCED
$4,900,000
New York
See Similar DealsRetail13,898 SF
Financed 06/24/2020
FINANCED
CapStar Bank Provides $4.9M Loan For Retail Property In Buffalo, NY With Broker Yaakov Zar & Gunnar Wilmot Of EvCapital
2000 Kensington Avenue, Buffalo, NY, USA
See Similar DealsRetail13,898 SF
Financed 06/24/2020
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$352
Total Square Footage:13,898 SF
Transaction Type:Loan
A retail property located at 2000 Kensington Avenue in Buffalo, NY, was involved in a recent closed transaction. The property, situated in the Buffalo market, was part of a loan deal.
Summary of transaction details:
- Property Type: Retail
- Loan Amount: $4,900,000
- Loan Terms: 63% LTV, 10 years fixed, 30 year AM, 3.5% rate, Flexible Pre-Pay & partial recourse
- Lender: CapStar Bank 🏦
- Broker: Yaakov Zar & Gunnar Wilmot from evCapital
The loan, provided by CapStar Bank, amounted to $4,900,000 and had favorable terms such as a 63% loan-to-value ratio, a fixed term of 10 years, a 30-year amortization schedule, and a 3.5% interest rate. The loan also offered flexible pre-payment options and partial recourse.
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LENDER
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,900,000.00
Monthly NOI$32,666.67
Monthly Debt Service$30,971.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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