Northmarq Arranges $21M Loan For Retail Property At 1020 Bradford Plaza Way In Cary, NC
1020 Bradford Plaza Way, Cary, North Carolina 27513, United States
$21,000,000
$269,230/SF
Building Size
78 SF
Asset Type
Retail
Closing
Apr 17, 2023
AI
An acquisition loan in the amount of $21,000,000 has been obtained for the retail property located at 1020 Bradford Plaza Way in Cary, NC. The property spans approximately 78,628 square feet and is represented by David Garfinkel of Northmarq.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $21,000,000
- Property Size: 78,628 square feet
- Address: 1020 Bradford Plaza Way, Cary, NC
- Market: Cary, NC
- Broker: David Garfinkel - Northmarq
- Loan Type: Acquisition
The acquisition loan marks a significant step in the deal, with David Garfinkel of Northmarq playing a crucial role as the broker representative. The loan will facilitate the acquisition of this retail property, enhancing the investment portfolio of the buyer. The transaction showcases the strong demand for retail properties in the Cary, NC market.
Players
Cary Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93