Big V Property Group Secures $125M Refinance Loan For The Avenue Murfreesboro
2615 Medical Center Parkway
$125,000,000
$147/SF
Building Size
846,467 SF
Asset Type
Retail
Closing
Oct 11, 2023
About this deal
AI
The Avenue Murfreesboro is a lifestyle retail center located at 2615 Medical Center Parkway in Murfreesboro, Tennessee, with a substantial size of 846,467 square feet. Recently, it has undergone a cash-out refinancing process, securing a loan amount of $125,000,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $125,000,000
- Asset Size: 846,467 SF
- Address: 2615 Medical Center Parkway
- Market: Murfreesboro, TN
- Landlord: Bryan Kallenberg & Dean Lumish - Big V Property Group
- Brokers: Brian Dawson, Chris Drew & Matthew Casey - JLL
- Loan Type: Refinance
Big V Property Group, represented by Bryan Kallenberg and Dean Lumish, has successfully executed the refinancing. The brokerage team from JLL, consisting of Brian Dawson, Chris Drew, and Matthew Casey, facilitated the transaction.
On the Map
$125,000,000
$147/SF
Retail
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Players
Murfreesboro 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
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93