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2615 Medical Center Parkway

Big V Property Group Secures $125M Refinance Loan For The Avenue Murfreesboro
FINANCEDRetail

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

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:

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.

Players

Bryan Kallenberg

Broker

$1.1B

vol

9 deals

Broker
Big V Property Group
Big V Property GroupBrokerage
Allianz Life Insurance Co
Allianz Life Insurance CoLender
Bryan Kallenberg

Bryan Kallenberg

Big V Property Group

Landlord

$1.1B

vol

9 deals

Landlord

Murfreesboro 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

0.13%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93