The Fauquier Bank Provides $3.2M Loan For Retail Property In Fredericksburg, VA
5651 Plank Road & 10065 Jefferson Davis Highway
Summary
The retail property located at 5651 Plank Road & 10065 Jefferson Davis Highway in Fredericksburg, VA has recently been involved in a closed transaction. The property, with an address in a prime location in Fredericksburg, offers great potential for retail business.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $3,185,000
- Lender: The Fauquier Bank
- Landlord: Michael Alterman
- Brokers: Uri Pearl, Yaakov Zar & Gunnar Wilmot @LevCapital
The loan for this transaction was provided by The Fauquier Bank. The loan amount was $3,185,000, with significant cash-out. The loan terms include a 6-year fixed rate with a 5-year extension option. The loan-to-value ratio (LTV) is set at 70%, with a 25-year amortization period and an interest rate of 3.3%. The loan is non-recourse, providing a favorable financing option for the borrower.
Notably, Uri Pearl, Yaakov Zar, and Gunnar Wilmot from @LevCapital played a key role in facilitating this transaction as brokers. Their expertise in the retail market ensured a successful deal for all parties involved. For those interested in NNN lease deals nationwide, it is recommended to contact Uri Pearl via email at [email protected].
As @LevCapital continues to grow, there are opportunities for professionals experienced in closing financing deals to join their team. If you have closed over $100 million in financing in 2020, reach out to them at [email protected].
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