Updated Oct 28, 2024
Paramount Realty Refinances Downingtown And Trevose Retail Properties With $23.7M Loan From Flushing Bank - Morris Dweck Represents ABS Altman Warwick
101 Quarry Road, Downingtown, Pennsylvania 19335, United States
$23,725,000
$249/SF
Building Size
95,211 SF
Asset Type
Retail
Closing
Dec 21, 2021
About this deal
AI
A retail property located at 101-109 Quarry Road, 3605, 3611, 3413, 3617 & 3625 Horizon Blvd. in Downingtown, PA & Trevose, PA has recently undergone a loan transaction. The property spans an area of 95,211 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,725,000
- Loan Type: Refinance
- Loan Terms: 7-year, 30-year amortization, 3.70%, non-recourse
The loan for the property, provided by Flushing Bank, amounted to $23,725,000. This loan was a refinance, with a term of 7 years and a 30-year amortization schedule. The interest rate on the loan was 3.70%, and it was non-recourse.
The landlord of the property is Paramount Realty. The broker involved in this transaction is Morris Dweck from ABS Altman Warwick.
Players
Downingtown 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
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93