Quadrant Finance Partners Provides $11.35M Bridge Loan For Retail Property In Brownsville
3819 Frontage Rd.
$11,350,000
$210/SF
Building Size
54,000 SF
Asset Type
Retail
Closing
Aug 9, 2022
AI
RubiGroup Capital has recently closed on a retail property located at 3819 Frontage Rd. in Brownsville. The property spans over 54,000 square feet and is now under the ownership of RubiGroup Capital.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $11,350,000
- Lender: Quadrant Finance Partners
- Mortgage Broker: Nick Edmonds - Ethos Commercial Advisors
- Loan Type: Bridge
- Loan Terms: 24-month, full term interest only bridge loan at 75% loan to purchase price
Nick Edmonds from Ethos Commercial Advisors represented RubiGroup Capital in securing the bridge loan for this property. The loan amount of $11,350,000 will provide the necessary financing for their acquisition. For more information about this transaction, please contact Nick Edmonds at [email protected].
Players
San Bernardino 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
1.40%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93