Largo Capital Arranges $17.3 Million Bridge Loan Through Bank Of America For Culver Ridge Plaza
2255 East Ridge Road
$17,300,000
$59/SF
Building Size
291,000 SF
Asset Type
Retail
Closing
May 29, 2025
AI
Culver Ridge Plaza is a 291,000-square-foot retail shopping center located at 2255 East Ridge Road in Irondequoit, NY. A bridge loan of $17,300,000 has been secured to facilitate its financing.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,300,000
- Lender: Bank of America
- Loan Type: Bridge
- Brokers: Kevin Ross & Michelle Colosimo - Largo Capital
Kevin Ross and Michelle Colosimo from Largo Capital were instrumental in arranging the financing for this deal, collaborating with Bank of America to establish the bridge loan for the shopping center.
Players
Rochester 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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93