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Marissa Wilbur Of Archway Capital Provides $5.6M Bridge Loan For Tempe Industrial Warehouse

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FINANCED
$5,600,000

Arizona

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Industrial40,075 SF
Financed 12/31/2024
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Property Image
FINANCED

Marissa Wilbur Of Archway Capital Provides $5.6M Bridge Loan For Tempe Industrial Warehouse

2209 West 1st Street

See Similar Deals
Industrial40,075 SF
Financed 12/31/2024
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$139
Total Square Footage:40,075 SF
Transaction Type:Loan

The property asset involved in the transaction is a single-story, small-bay industrial warehouse located at 2209 West 1st Street in Tempe, AZ. It encompasses a total of 40,075 square feet and is currently 97% leased, with tenants paying below-market rents. The building features multiple grade-level doors and additional land available for outdoor storage.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $5,600,000
  • Loan Type: Bridge
  • Loan Terms: 72% LTPP & 76% LTC, 15-day close, 18-month term, no pre-payment, Non-recourse
  • Lender: Marissa Wilbur - Archway Capital
  • Broker: Keith Rosso - Berkadia

Marissa Wilbur represented Archway Capital in facilitating the loan for the acquisition, successfully closing the transaction in 15 business days due to an expedited year-end closing requirement. The loan structure is non-recourse and includes a reserve for capital expenditures and leasing expenses, which covers a significant portion of the project cost.

Players

Keith Rosso
Berkadia
Keith Rosso
8 deals$486.8M volume(310) 209-3207
BROKER
Archway Capital
Archway Capital
LENDER

Details

FINANCED
IMAGE: Marissa Wilbur & Keith Rosso DATE: 12/31/2024 ADDRESS: 2209 West 1st Street MARKET: Tempe, AZ ASSET TYPE: Industrial ~ SF: 40,075 LENDER: Marissa Wilbur (@MissMariss__)- Archway Capital (@ArchwayCapital) BROKER: Keith Rosso - Berkadia (@Berkadia) LOAN AMOUNT: $5,600,000 LOAN TYPE: Bridge LOAN TERMS: 72% LTPP & 76% LTC, 15-day close, 18-month term, no pre payment, Non-recourse NOTE FROM LENDER: Archway Capital facilitated a 72% LTV/LTPP acquisition loan for a single-story, small-bay industrial warehouse building located in Tempe, Arizona. The property boasts a current occupancy of 97% with tenants paying substantially below-market rents. The asset comprises 40k NRSF across two structures, featuring multiple grade-level doors and excess land for outdoor storage. Archway successfully closed the transaction within 15 business days from initiation. The bridge financing was necessitated by an expedited, year-end closing requirement and limited in-place cash flow at the property. The loan structure is non-recourse, carries an 18-month term with extension options, and notably, has no interest reserve or yield maintenance obligations. Archway's loan proceeds also include a reserve allocation for capital expenditures and leasing expenses, covering 76% of the total project cost. Please reach out to Archway Capital on any value add or quick close financing scenarios! [email protected] | 424.270.0168

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,600,000.00

Monthly NOI$37,333.33
Monthly Debt Service$35,395.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00