Updated Mar 11, 2025
Phillip Bankhead Arranges Loan For Carrollton Park Village With Genworth Financial
1927 E Belt Line Rd, Carrollton, TX, 7...
Building Size
—
Asset Type
Commercial
Closing
Nov 22, 2023
About this deal
AI
Carrollton Park Village is a 110,000-square-foot shopping center located at 1927 E Belt Line Rd, Carrollton, TX, 75006. The property, built on 10 acres between 1965 and 1987, is home to tenants such as dd’s Discounts, Dollar General, and Hibbett Sporting Goods.
Summary of transation details:
- Property Type: Commercial
- Transaction Amount: Undisclosed
- Borrower's Representative: Phillip Bankhead (NorthMarq)
- Lender: Genworth Financial
- Interest Rate: Fixed
- Term: 15 years
- Amortization Schedule: 25 years
Phillip Bankhead of NorthMarq acted as the borrower's representative in securing a permanent loan through Genworth Financial on behalf of the borrower, Vista Property Co. The loan carried a fixed interest rate, a 15-year term, and a 25-year amortization schedule.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93