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Alan Tapie Of Bellwether Enterprise Secures $8M Loan For Freedom Plaza Acquisition

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FINANCED
$8,000,000

New York

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Retail197,397 SF
Financed 02/26/2024
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Property Image
FINANCED

Alan Tapie Of Bellwether Enterprise Secures $8M Loan For Freedom Plaza Acquisition

205 Erie Boulevard West

See Similar Deals
Retail197,397 SF
Financed 02/26/2024
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$40
Total Square Footage:197,397 SF
Transaction Type:Loan

The $8 million loan was obtained for the acquisition of Freedom Plaza, a 197,397 square-foot retail property located at 205 Erie Boulevard West in Rome, New York. The property houses various tenants, including Grand Union, Dollar Tree, Domino’s, and Marshalls, with Hobby Lobby expected to join soon.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $8,000,000
  • Address: 205 Erie Boulevard West
  • Market: Rome
  • Landlord: Sridhar Marupudi - Octave Investment
  • Broker: Alan Tapie - Bellwether Enterprise Real Estate Capital (BWE)

Alan Tapie of Bellwether Enterprise Real Estate Capital (BWE) played a crucial role in orchestrating the financing deal for the acquisition of Freedom Plaza in Rome. The loan amount of $8 million was secured for this transaction, showcasing the expertise and experience of the individuals and companies involved.

Players

Alan Tapie
Bellwether Enterprise (BWE)
Alan Tapie
3 deals$155.7M volume(770) 402-5392
BROKER

Details

FINANCED
IMAGE: Sridhar Marupudi & Alan Tapie DATE: 02/26/2024 ADDRESS: 205 Erie Boulevard West MARKET: Rome ASSET TYPE: Retail ~ SF: 197,397 LANDLORD: Sridhar Marupudi - Octave Investment BROKER: Alan Tapie - Bellwether Enterprise Real Estate Capital (BWE) LOAN AMOUNT: $8,000,000 LOAN TYPE: Acquisition NOTE: BWE has finalized an $8 million loan for acquiring Freedom Plaza, a shopping center in Rome, central New York, spanning 197,397 square feet and housing tenants like Grand Union, Dollar Tree, Domino’s, and Marshalls, with Hobby Lobby set to join this year. Alan Tapie of BWE orchestrated the financing deal.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,000,000.00

Monthly NOI$53,333.33
Monthly Debt Service$50,565.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00