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Jacob Lee & Thomas Rudinsky Of PSRS Arrange $12M Refinancing For Industrial Asset In Phoenix
FINANCED
$12,000,000
Arizona
See Similar DealsIndustrial250,000 SF
Financed 07/12/2024
FINANCED
Jacob Lee & Thomas Rudinsky Of PSRS Arrange $12M Refinancing For Industrial Asset In Phoenix
South 29th Drive
See Similar DealsIndustrial250,000 SF
Financed 07/12/2024
Summary
ARIZONA
Asset Type:Industrial
Price Per Square Foot:$48
Total Square Footage:250,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,000,000.00
Monthly NOI$80,000.00
Monthly Debt Service$75,848.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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