Garrett Fierstein Of Marcus & Millichap Arranges $3M Loan For Wallace Crossings Retail Center

The asset involved in this transaction is a retail property located at 719 North Norwood Street in Wallace, NC. The loan amount secured for this property is $3,013,500, structured as a 10-year loan with a 6.25% interest rate and a 30-year amortization period, reflecting a 73% loan-to-value ratio.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,013,500
• Loan Terms: 10-year loan with a 6.25% interest rate and 30-year amortization
• Loan-to-Value: 73%
• Broker: Garrett Fierstein - Marcus & Millichap
• Market: Wallace, NC

Garrett Fierstein, operating from the Marcus & Millichap Capital office in Orlando, played a crucial role in sourcing the financing for the Wallace Crossings retail center. The financing was arranged through a local credit union, offering the client flexible terms. The property is anchored by U-Haul, highlighting its tenant mix.