Paramount Realty Refinances Downingtown And Trevose Retail Properties With $23.7M Loan From Flushing Bank - Morris Dweck Represents ABS Altman Warwick
FINANCED
$23,725,000
Pennsylvania
See Similar DealsRetail95,211 SF
Financed 12/21/2021
FINANCED
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
See Similar DealsRetail95,211 SF
Financed 12/21/2021
Summary
PENNSYLVANIA
Asset Type:Retail
Price Per Square Foot:$249
Total Square Footage:95,211 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,725,000.00
Monthly NOI$158,166.67
Monthly Debt Service$149,958.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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