Quadrant Finance Partners Provides $11.35M Bridge Loan For Retail Property In Brownsville
FINANCED
$11,350,000
New York
See Similar DealsRetail54,000 SF
Financed 08/09/2022
FINANCED
Quadrant Finance Partners Provides $11.35M Bridge Loan For Retail Property In Brownsville
3819 Frontage Rd.
See Similar DealsRetail54,000 SF
Financed 08/09/2022
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$210
Total Square Footage:54,000 SF
Transaction Type:Loan
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].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,350,000.00
Monthly NOI$75,666.67
Monthly Debt Service$71,739.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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