Loan amount
$7,200,000
Loan type
As-Is Property Value
$8,000,000
LTV
90%
{LTV}
Property type
Commercial / Retail
Borrower Details
Credit score
750
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Rhode Island
Loan Details
Additional Loan Information
This project is a fully occupied, 72,000 square foot retail plaza. The NOI is slightly north of $600,000 per year. Three of the tenants are national companies, and the others have multiple locations throughout the state. There are rental increases planned for nearly all tenants by 2024. Purchase price $8M. 5-10% depending on what your expectation would be. We can increase this if you would consider the current landlord holding a portion of the note. We are not in contract yet, but will be soon. It is an unlisted property. Property located in Providence, RI. Would like to discuss loan duration options.
Status
Closed
Created
July 14, 2020 - 8:23am
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