Updated Jun 30, 2025
Grubb Properties Secures $26 Million Bridge Loan From Bayview Commercial Mortgage In Chapel Hill
136 East Rosemary Street & 137 East Franklin Street
$26,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jun 27, 2025
About this deal
AI
The property asset involved in this transaction is a mixed-use development located at 136 East Rosemary Street & 137 East Franklin Street in Chapel Hill, NC. It encompasses approximately 122,000 square feet and serves as Grubb Properties’ Innovation Hub.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $26,000,000
- Lender: Bayview Commercial Mortgage Finance
- Landlord: Grubb Properties
- Broker: Hal Kempson - Avison Young
- Loan Type: Bridge
The transaction features key individuals and companies involved, with Hal Kempson from Avison Young representing Grubb Properties in arranging the loan. The bridge loan was specifically obtained from Bayview Commercial Mortgage Finance to refinance the property.
On the Map
$26,000,000
Mixed-use
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Chapel Hill Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93