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10400 Midlothian Turnpike

Big V Property Group Secures $25.18M Redevelopment Refinance Loan From ORIX USA In Richmond VA
FINANCEDRetail

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

Orix
OrixLender

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