America’s Realty Acquires Retail Property In Petersburg, VA With $8.2M Loan

A retail property in Petersburg, VA has recently been involved in a closed transaction. The property, located at 3330 S Crater Rd & 3333 S Crater Rd, was acquired through a loan.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $8,200,000
• Market: Petersburg, VA
• Landlord: America’s Realty
• Broker: Eastern Union Funding - Marc Tropp
• Loan Type: Acquisition
• Loan Terms: The interest rate on the full-recourse loan equaled 3.6% over a five-year term, with 12 months of interest-only payments.

The loan for the acquisition of this retail property was facilitated by Eastern Union Funding, with Marc Tropp acting as the broker representative. The loan amount totaled $8,200,000 and the terms included an interest rate of 3.6%. The loan had a five-year term, with the first year consisting of interest-only payments.