Meridian Capital Group Secures $2M Loan For Retail Property In Islandia
3045 Express Drive North
$2,000,000
$2,000,000/SF
Building Size
1 SF
Asset Type
Retail
Closing
Feb 28, 2023
About this deal
AI
Meridian Capital Group represented the borrower in securing a $2,000,000 purchase loan for a retail property located at 3045 Express Drive North in Islandia. The loan has a 5-year term, with the first year being interest-only, and a 30-year amortization schedule. Flexible prepayment options are also available.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,000,000
- Address: 3045 Express Drive North
- Market: Islandia
Meridian Capital Group, represented by Matt Buggenhagen, Jason Labriola, and Anthony Colicino, acted as the brokers for the borrower in this transaction. Their expertise and assistance were instrumental in securing the loan for the retail property.
Players
Village of 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93