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301 Voyager Way Northwest, ...

Iron Hound Management Arranges $80M Refinance Loan For Huntsville Office Properties
FINANCEDOffice

Iron Hound Management Arranges $80M Refinance Loan For Huntsville Office Properties

301 Voyager Way Northwest, Huntsville, AL, USA

$80,000,000

Building Size

Asset Type

Office

Closing

Jul 19, 2021

AI

The property involved in this closed transaction is an office located at 301 Voyager Way, 5030 Bradford Drive, 5000 Bradford Drive, 7037 Old Madison Pike, 7047 Old Madison Pike, 7057 Old Madison Pike, 7067 Old Madison Pike, 200 Clinton Avenue West, and 620 Discovery Drive in Huntsville, AL. The property is owned by Meyer Chetrit, Uri Mermelstein, Joseph Yushuvayev, and Yaacov Amar. The loan transaction was handled by lenders citibank''>Citibank, represented by Joseph Dyckman, and Deutsche Bank, represented by Thomas Rugg.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $80,000,000
  • Loan Type: Refinance
  • Loan Terms: 10-year, fixed rate loan, 3.40% interest rate

The brokers involved in this transaction were Robert Verrone and Kempton Coady from Iron Hound Management. They played a crucial role in facilitating the deal between the parties.

Players

Robert Verrone

Iron Hound Management Company

Broker

$5.9B

vol

31 deals

Broker
Deutsche Bank
Deutsche BankLender
Citibank
CitibankLender

Yaacov Amar

Landlord

$89.5M

vol

3 deals

Landlord
Chetrit Group
Chetrit GroupLandlord

Huntsville Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93