Romspen Provides $30.5M Fixed-Rate Bridge Loan For Retail Property In Williamsburg, VA With Brokers Dylan Kane & Zach Redding - Colliers
Monticello Ave, Williamsburg, Virginia 23185, United States
$30,500,000
$123/SF
Building Size
248,000 SF
Asset Type
Retail
Closing
Aug 8, 2022
AI
The property involved in the transaction is a retail asset located at the intersection of Monticello Ave and Ironbound Rd in Williamsburg, VA. The property spans a total of 248,000 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $30,500,000
- Address: Monticello Ave & Ironbound Rd, Williamsburg, VA
- Market: Williamsburg, VA
- Lender: romspen''>Romspen
- Brokers: Dylan Kane & Zach Redding - Colliers
- Loan Type: Refinance
- Loan Terms: Fixed-rate bridge loan
- Note: No additional information available
Colliers represented the buyer and seller in the transaction. Dylan Kane and Zach Redding, both from Colliers, acted as the brokers in the deal. They facilitated the refinance loan from Romspen for a total amount of $30,500,000.
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