Jacob Lee & Thomas Rudinsky Of PSRS Arrange $12M Refinancing For Industrial Asset In Phoenix
South 29th Drive
$12,000,000
$48/SF
Building Size
250,000 SF
Asset Type
Industrial
Closing
Jul 12, 2024
AI
A multi-tenant industrial warehouse located at 29th Drive in Phoenix, AZ, encompasses a total of 250,000 square feet. The property has been refinanced with a loan amount of $12,000,000, structured to enhance its financial position within the market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $12,000,000
- Loan Type: Refinance
- Market: Phoenix, AZ
- Asset Size: 250,000 SF
- Broker Representatives: Jacob Lee & Thomas Rudinsky - PSRS- Pacific Southwest Realty Services
Jacob Lee and Thomas Rudinsky played pivotal roles in facilitating the refinancing arrangement for the warehouse. They successfully secured a non-recourse, fixed-rate, five-year loan featuring step-down prepayment terms from a correspondent life insurance company.
Players
Show Low Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93