Alan Tapie Of Bellwether Enterprise Secures $8M Loan For Freedom Plaza Acquisition
205 Erie Boulevard West
$8,000,000
$40/SF
Building Size
197,397 SF
Asset Type
Retail
Closing
Feb 26, 2024
About this deal
AI
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.
Rome 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93