SM Capital, Inc. And Mountain America Federal Credit Union Provide $6,980,000 Loan For Industrial Property In Mesa
260 S Hibbert St
$6,980,000
$97/SF
Building Size
71,272 SF
Asset Type
Industrial
Closing
Jun 15, 2023
AI
The property asset involved in the transaction is an industrial space located at 260 S Hibbert St, Mesa. It encompasses a total square footage of 71,272 and is associated with a loan amount of $6,980,000. The loan type is classified as a purchase, serving as a financial instrument for the acquisition of the asset.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,980,000.00
- Address: 260 S Hibbert St
- Market: Mesa
- Lender: SM Capital, Inc., Mountain America Federal Credit Union (MAFCU)
- Landlord: DWG Capital Group, LLC
- Loan Date: 06/15/2023
Key individuals involved in the deal include the lenders SM Capital, Inc. and Mountain America Federal Credit Union, which facilitated the financing for the transaction. The landlord representing the property is DWG Capital Group, LLC, indicating their role in overseeing the asset's management and potential leasing arrangements.
Players
Mesa Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93