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3450 Poplar Avenue

Renasant Bank Provides $25.1M Refinance For Finard Properties Retail Center In Memphis
FINANCEDRetail

Renasant Bank Provides $25.1M Refinance For Finard Properties Retail Center In Memphis

3450 Poplar Avenue

$25,139,000

Building Size

Asset Type

Retail

Closing

Jul 30, 2025

AI

The transaction involves a retail asset located at 3450 Poplar Avenue in Memphis, TN. The property is associated with a loan amount of $25,139,000, under a refinance loan type and includes a seven-year, fixed-rate loan. The asset is distinguished by its high-traffic location near the University of Memphis and is anchored by a long-term leased Kroger, aimed at facilitating center upgrades and attracting new tenants.

Summary of transaction details:

The refinancing of Poplar Plaza was arranged by JLL, emphasizing Memphis's growth linked to its logistics, healthcare, and manufacturing sectors. The transaction key players include Renasant Bank as the lender and Finard Properties as the landlord, supported by the brokerage team from JLL, who were instrumental in orchestrating the deal.

Players

Brett Paulsrud

JLL

Broker

$2.9B

vol

20 deals

Broker
JLL
JLLBrokerage
Renasant Bank
Renasant BankLender

Memphis 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

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93