Refuge Center For Counseling Secures $6.3M Construction Loan For Franklin Counseling Center Campus
103 Forrest Crossing Boulevard Franklin, Tennessee 37064, USA
$6,300,000
$420/SF
Building Size
15,000 SF
Asset Type
Office
Closing
Aug 1, 2023
About this deal
AI
The Refuge Center for Counseling, a nonprofit health services organization, has obtained a $6.3 million construction loan for its future counseling center campus located at 103 Forrest Crossing Blvd in Franklin, Tennessee. The office property spans 15,000 square feet and sits on 7 acres of land.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,300,000
- Address: 103 Forrest Crossing Blvd, Franklin, TN
- Market: Franklin, TN
- Asset Type: Office
- Square Footage: 15,000
- Acres: 7
Amy Alexander represented the landlord, Refuge Center for Counseling, in securing the $6.3 million construction loan. The loan will be used to finance the development of the organization's future counseling center campus in Franklin. This project will enable the Refuge Center for Counseling to expand their services and meet the growing demand for mental health support in the area.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93