Big V Property Group Secures $25.18M Redevelopment Refinance Loan From ORIX USA In Richmond VA
10400 Midlothian Turnpike
$25,175,000
$139/SF
Building Size
180,845 SF
Asset Type
Retail
Closing
Oct 1, 2024
AI
The asset involved in the transaction is a retail property located at 10400 Midlothian Turnpike in the Richmond, VA market. It spans a total square footage of 180,845 and has a loan amount of $25,175,000 under a redevelopment refinance loan type.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $25,175,000
- Address: 10400 Midlothian Turnpike
- Market: Richmond, VA
- Asset Size: 180,845 SF
- Lender: ORIX USA
- Landlord: Big V Property Group
- Representatives: Bryan Kallenberg, Skylar Staib & Dean Lumish
- Loan Type: Redevelopment Refinance
The transaction features key individuals and companies, including the landlord Big V Property Group represented by Bryan Kallenberg, Skylar Staib, and Dean Lumish. These representatives played a significant role in facilitating the loan arrangement with ORIX USA for the redevelopment refinance.
Players
North Chesterfield 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93