Updated Sep 5, 2024
FINANCEDRetail
Black Bear Capital Partners Arranges $7.4M Refinance Loan For Retail Property On N Broadway, Pennsville
251 N Broadway
$7,400,000
Building Size
—
Asset Type
Retail
Closing
Sep 19, 2023
About this deal
AI
The retail property located at 251 N Broadway in Pennsville, NJ was involved in a loan transaction. The loan amount for this property was $7,400,000, and it was a refinancing loan.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $7,400,000
- Loan Type: Refinance
- Loan Terms: The grocery anchored shopping center, spanning 140k SF, was refinanced via a 5-year fixed-rate loan featuring a 25-year amortization, flexible prepay, strategic release provisions, and was provided by a balance sheet lender.
Brandon Harris from Black Bear Capital Partners represented the property in the loan transaction.
Dunn 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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93