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Yale Paprin Acquires Afton Ridge Shopping Center In Concord For $49.25M
SOLD
$49,250,000
North Carolina
See Similar DealsRetail
Sold 03/14/2024
SOLD
Yale Paprin Acquires Afton Ridge Shopping Center In Concord For $49.25M
6230 Bayfield Parkway
See Similar DealsRetail
Sold 03/14/2024
Summary
NORTH CAROLINA
Asset Type:Retail
Transaction Type:Sale
The Afton Ridge shopping center in Concord, NC, was recently acquired by Yale Realty Services Corp for $49.25 million. The purchase was financed through a $29.55 million mortgage from MetLife Investment Management. The property, located at 6230 Bayfield Parkway, is a retail asset.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $49,250,000
- Buyer: Yale Paprin - Yale Realty Services Corp
- Lender: MetLife
Yale Paprin, representing Yale Realty Services Corp, played a crucial role in the acquisition of the Afton Ridge shopping center. MetLife provided the necessary financial support as the lender in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,626,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$174,974.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$233,470.13
Annual Debt Service$2,801,641.51
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