ValueXpress Obtains $5.5-Million CMBS Conduit Loan for a Neighborhood Shopping Center in Suburban Atlanta, GA

ValueXpress obtained a $5.5-million first-mortgage loan that was utilized to refinance existing debt secured by a 20,000-square-foot neighborhood shopping center located in the Atlanta MSA. The property, currently 100% occupied by nine tenants, was constructed in 2004 and is in excellent condition. The loan transaction was structured as a 10-year term based on a 30-year amortization schedule. Loan-to-value was 75% and the property provides 1.25x net cash flow DSCR on actual income and expenses.

“The transaction was completed quickly as the sponsor wanted to capture an attractive rate,” commented Michael D. Sneden, Executive Vice President at ValueXpress. “We were happy to see that goal achieved.”

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This entry was posted in CMBS, CMBS Conduit Loans, Commercial Real Estate Loans, Michael D. Sneden, News & Recent Closings, The Banker's Mortgage Conduit, Valuexpress and tagged , . Bookmark the permalink.

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