CBRE CAPITAL MARKETS ARRANGES $1.4 MILLION ACQUISITION LOAN

by admin

NEW YORK CITY — CB Richard Ellis Capital Markets Group (CBRE) has secured $1.4 million in acquisition for a 14,000-square-foot gas station located at 456-60 Bushwick Ave. in New York City. The loan carries an 8.5 percent fixed rate, a 5-year term with a 25-year amortization schedule and a 67 percent loan-to-value ratio. The borrower, 456 Bushwick LLC, used the proceeds to help acquire the property at a price of $2.1 million and a 9.1 percent cap rate. The property is currently subject to a 15-year lease, with BP as the fuel provider. CBRE’s Efrat Sharon originated the loan on behalf of the borrower through a local credit union.

You may also like