Romspen Provides $30.5M Refinance Loan For Retail Property In Williamsburg, VA
4911 Courthouse Street
$30,500,000
$122/SF
Building Size
248,176 SF
Asset Type
Retail
Closing
Aug 4, 2022
AI
The property involved in this closed transaction is a retail space located at 4911 Courthouse St. in the New Town Shops on Main development in Williamsburg, VA. The property has a total square footage of 248,176. The landlord of the property is Developers Realty Corporation.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Lender: romspen''>Romspen
- Brokers: Dylan Kane & Zach Redding - Colliers
The loan for this transaction was provided by Romspen. The loan amount is $30,500,000 and it was a refinance loan. Dylan Kane and Zach Redding from Colliers represented the parties involved in the deal.
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