Valley National Bank Provides $9.4M Loan For Retail Acquisition In Oklahoma City, Antioch, Durham, And Gotha
4525 Northwest 23rd Street, Oklahoma City, Oklahoma 73127, United States
$9,400,000
Building Size
—
Asset Type
Retail
Closing
May 18, 2022
About this deal
AI
Valley National Bank has provided a loan of $9,400,000 for the acquisition of a retail property located at 4525 NW 23rd St., 221 Crossings Pl., 1133 West NC-54 & 3860 Old Winter Garden Rd. The property is situated in Oklahoma City, OK; Antioch, TN; Durham, NC & Gotha, FL.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $9,400,000
- Lender: Valley National Bank
- Landlord: Michael Fabrizio
- Broker: Caillin Boles - Progress Capital
Caillin Boles from Progress Capital represented the buyer in the loan transaction.
Players
Oklahoma City 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
1.69%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93