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Deutsche Bank Provides $29.6M CMBS Loan For Centers Of High Point Portfolio In North Carolina

Property Image
FINANCED
$29,642,857

North Carolina

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Commercial
Financed 01/09/2023
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Property Image
FINANCED

Deutsche Bank Provides $29.6M CMBS Loan For Centers Of High Point Portfolio In North Carolina

North Carolina, United States

See Similar Deals
Commercial
Financed 01/09/2023
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Summary

NORTH CAROLINA
Asset Type:Commercial
Transaction Type:Loan

The Centers Of High Point Portfolio, a commercial asset located in North Carolina, has been involved in a recent loan transaction.

Summary of transaction details

  • Property Type: Commercial
  • Transaction Amount: $29,642,857
  • Loan Type: CMBS
  • Loan Terms: 5 Year fixed-rate; non-recourse

The lender for this transaction was Deutsche Bank. The loan was facilitated by Eli Serebrowski, Morris Betesh, Morris Dabbah, and Jacob Petrovic from Meridian Capital Group.

It is worth mentioning that the Center Point Portfolio consists of several properties, including Center Point on Manning (324 E Russel Ave), Center Point of Hamilton (309 E Russell Ave; 401-421 & 416 South Hamilton St), Center Point on Centennial (400-418 E Russell Ave; 403-445 South Centennial St; 401-432 Tate St), Center Point on Russell (319 South Centennial St), Center Point on Field House (411 Manning St), and Center Point 212 (212 E Russell Ave).

Players

Morris Betesh
211 deals$12.3B volume(646) 825-7005
BROKER

Morris Dabbah
Arrow Real Estate Advisors
34 deals$1.1B volume(212) 612-0105
BROKER

Eli Serebrowski
Arrow Real Estate Advisors
14 deals$684.2M volume
BROKER

Deutsche Bank
LENDER

Details

FINANCED
IMAGE: Eli Serebrowski, Morris Betesh, Morris Dabbah & Jacob Petrovic DATE: 01/09/2023 ADDRESS: Centers Of High Point Portfolio MARKET: North Carolina ASSET TYPE: Commercial LENDER: Deutsche Bank (@DeutscheBank) BROKERS: Eli Serebrowski, Morris Betesh, Morris Dabbah & Jacob Petrovic (@JacobPetrovic) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $29,642,857 LOAN TYPE: CMBS LOAN TERMS: 5 Year fixed-rate; non-recourse NOTE FROM BROKER: Center Point on Manning - (324 E Russel Ave) Center Point of Hamilton - (309 E Russell Ave; 401-421 & 416 South Hamilton St) Center Point on Centennial - (400-418 E Russell Ave; 403-445 South Centennial St; 401-432 Tate St) Center Point on Russell - (319 South Centennial St) Center Point on Field House - (411 Manning St) Center Point 212 - (212 E Russell Ave)

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$29,642,857.00

Monthly NOI$197,619.05
Monthly Debt Service$187,363.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00