$10.1MM PERMANENT LOAN FOR RICHMOND, VA NEIGHBORHOOD RETAIL CENTER

Deal Highlights

10 year fixed-rate financing with 1 year of interest-only payments

 

Food Lion & YouFit anchored center

Dominant retail property in the trade area

Cronheim Mortgage arranged permanent financing of $10.1 million for Oak Hill Plaza, a 111,680 square foot grocery-anchored retail property located in Richmond, Virginia. The loan was structured with a 10 year term, 1 year of interest-only payments, and a 30 year amortization thereafter.

The Subject is situated in the East Highland Park neighborhood of Richmond, Virginia, less than 3 miles outside of the city. It is the dominant retail property within the trade area and features a 35,560 square foot Food Lion anchor as well as a 23,000 YouFit Health Club which opened in April of 2016. In addition to its anchors, the center boasts a diverse mix of tenants including Subway, H&R Block, Pizza Hut, CC’s Pet Spa, Shoe City, and Payless.

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