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Watkins Real Estate Group Secures $38.5 Million Loan For Retail Development In Nolensville, TN
FINANCED
$38,500,000
+ 1
Tennessee
See Similar DealsRetail
Financed 07/11/2024
FINANCED
Watkins Real Estate Group Secures $38.5 Million Loan For Retail Development In Nolensville, TN
2340 Nolensville Park Road
See Similar DealsRetail
Financed 07/11/2024
+ 1
Summary
TENNESSEE
Asset Type:Retail
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,500,000.00
Monthly NOI$256,666.67
Monthly Debt Service$243,346.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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