Life Insurance Company Provides $30 Million Refinance Loan For Bronx Retail Asset
FINANCED
$30,000,000
New York
See Similar DealsRetail
Financed 05/22/2025
FINANCED
Life Insurance Company Provides $30 Million Refinance Loan For Bronx Retail Asset
Retail
Financed 05/22/2025
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
The asset involved in this transaction is a retail property located in the Bronx. The refinance loan amount secured for this asset is $30,000,000, provided by a life insurance company. The property serves as a vital retail hub within its market, emphasizing its relevance in the Bronx area.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $30,000,000
- Lender: Life Insurance Company
- Loan Type: Refinance
- Date: 5/22/2025
The brokers representing the transaction are Morris Betesh and Jack McPhail from Arrow Real Estate Advisors. Their involvement highlights their role in facilitating the refinance deal, ensuring that all processes adhere to the requirements and expectations associated with such financial transactions.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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