Largo Capital Inc Refinances Retail Property In Pickerington With $7.9M Loan
1171 Hill Road North
$7,900,000
$87/SF
Building Size
90,040 SF
Asset Type
Retail
Closing
Apr 12, 2024
AI
The refinancing of a fully leased 90,040-square-foot shopping center located at 1171 Hill Road North in Pickerington, Ohio, was facilitated through a $7.9 million nonrecourse, fixed-rate loan. The loan was arranged by Largo Capital Inc., represented by Kevin Ross. Tenants at the shopping center include Big Lots and Planet Fitness.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,900,000
- Address: 1171 Hill Road North
- Market: Pickerington, Ohio
- Asset Size: 90,040 SF
- Broker: Kevin Ross - Largo Capital Inc
- Loan Type: Refinance
- Loan Terms: Nonrecourse, fixed-rate loan
Largo Capital Inc., represented by Kevin Ross, successfully orchestrated the refinancing deal for the shopping center, ensuring a smooth transaction process for the undisclosed lenders and borrowers involved in the deal.
Players
Pickerington 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
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93