Watkins Real Estate Group Secures $38.5 Million Loan For Retail Development In Nolensville, TN
2340 Nolensville Park Road
$38,500,000
Building Size
—
Asset Type
Retail
Closing
Jul 11, 2024
AI
A construction loan amounting to $38,500,000 has been arranged for a forthcoming retail asset located at 2340 Nolensville Park Road in Nolensville, TN. The project, identified as Village Green, encompasses an area of 90,525 square feet and is set to become a shopping center.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $38,500,000
- Landlord: Watkins Real Estate Group
- Loan Type: Construction
- Market: Nolensville, TN
- Brokers: Brian Linnihan, Mike Ryan, Richard Henry & Taylor Crowder - CBRE
Watkins Real Estate Group secured the loan through ServisFirst Bank, while the transaction was managed by the team at CBRE Capital Markets, highlighting the involved parties' collaboration in facilitating the financing for the upcoming shopping center.
Players
Nolensville Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93