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501 Pearl Street, Pageland,...

First National Bank Provides $2.26M Loan For Retail Property In Pageland, SC - Brian Anderson & Eddie Miro Of Progress Capital Represent Buyer And Landlord Anupam Gupta
FINANCEDRetail

First National Bank Provides $2.26M Loan For Retail Property In Pageland, SC - Brian Anderson & Eddie Miro Of Progress Capital Represent Buyer And Landlord Anupam Gupta

501 Pearl Street, Pageland, South Carolina 29728, United States

$2,260,000

$62/SF

Building Size

35,914 SF

Asset Type

Retail

Closing

Mar 20, 2022

AI

Located at 501 South Pearl Street in Pageland, SC, this retail property spans a total of 35,914 square feet. The transaction took place on March 21, 2022, with Brian Anderson and Eddie Miro representing the buyer and seller respectively. The property was acquired by Anupam Gupta, who secured a loan from First National Bank in the amount of $2,260,000.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $2,260,000
  • Lender: First National Bank
  • Landlord: Anupam Gupta
  • Brokers: Brian Anderson & Eddie Miro - Progress Capital

The acquisition loan provided by First National Bank facilitated the purchase of this retail property by Anupam Gupta. Brian Anderson and Eddie Miro of Progress Capital played crucial roles as brokers in the deal, representing the buyer and seller respectively.

Players

Brian Anderson

Cushman & Wakefield

Broker

$378.3M

vol

40 deals

Broker
First National Bank
First National BankLender

Anupam Gupta

Landlord

$7.9M

vol

3 deals

Landlord

Pageland 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

7.02%

Cash-on-Cash

-2.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93