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Monticello Ave, Williamsbur...

Romspen Provides $30.5M Fixed-Rate Bridge Loan For Retail Property In Williamsburg, VA With Brokers Dylan Kane & Zach Redding - Colliers
FINANCEDRetail

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

Dylan Kane

Colliers

Broker

$3.5B

vol

60 deals

Broker
B6 Real Estate Advisors
B6 Real Estate AdvisorsBrokerage
Romspen
RomspenLender

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