Updated Oct 29, 2024
Stormfield Capital Provides $12M Bridge Loan For Mixed-Use Property In Charlotte, NC
3216 South Boulevard
$12,000,000
$244/SF
Building Size
49,093 SF
Asset Type
Mixed-use
Closing
Jul 28, 2023
About this deal
AI
The mixed-use property located at 3216-3232 South Blvd in Charlotte, NC has been involved in a recent loan transaction. The property spans a total square footage of 49,093 and serves as a combination of residential and commercial spaces.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $12,000,000
- Address: 3216-3232 South Blvd, Charlotte, NC
- Market: Charlotte, NC
- Lender: Stormfield Capital - Kyle Shea & Wes Carpenter
- Broker: Lincoln James Capital - Sokoni Scott
- Loan Type: Bridge
The loan for this property was issued by Stormfield Capital, with Kyle Shea and Wes Carpenter representing the lender. The brokerage firm involved in the transaction is Lincoln James Capital, with Sokoni Scott serving as their representative.
Players
Charlotte 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93