Romspen Provides $30.5M Refinance Loan For Retail Property In Williamsburg, VA
4801 Courthouse Street, Williamsburg, Virginia 23188, United States
$30,500,000
Building Size
—
Asset Type
Retail
Closing
Sep 22, 2022
About this deal
AI
The retail property located at 4801 Courthouse St in Williamsburg, VA has recently undergone a refinancing deal. The property spans across 356 acres, offering a significant space for various retail activities.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,500,000
- Address: 4801 Courthouse St
- Market: Williamsburg, VA
- Lender: romspen''>Romspen
- Landlord: Developers Realty Corporation
- Brokers: Dylan Kane, Zach Redding & Peter Nicoletti - Colliers
The refinancing deal was facilitated by Dylan Kane, Zach Redding, and Peter Nicoletti, representing Colliers. Their expertise and negotiation skills played a crucial role in securing favorable loan terms for the property. The loan amount of $30,500,000 provided by Romspen enabled the property owner and landlord, Developers Realty Corporation, to optimize their financial situation and potentially explore further development opportunities.
On the Map
$30,500,000
Retail
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Players
Williamsburg 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
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93