Updated Oct 29, 2024
Preylock Real Estate Holdings Refinances 12 Amazon Warehouses With $1.1B Loan From Goldman Sachs
United States
$1,100,000,000
$123/SF
Building Size
8,900,000 SF
Asset Type
Industrial
Closing
Aug 9, 2023
About this deal
AI
A $1.1 billion loan package, led by Goldman Sachs, is being finalized by Preylock Real Estate Holdings to refinance a portfolio of 12 Amazon warehouses in 10 states. The warehouses have an average lease term of about 14 years and span a total area of 8,900,000 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,100,000,000
- Address: Portfolio
- Market: United States
- Lender: Goldman Sachs
- Landlord: Preylock Real Estate Holdings - Brett Lipman
- Loan Type: Refinance
- Loan Terms: non-recourse financing with a fixed interest rate of 5.38 percent
The loan package includes a separate mezzanine loan of $150 million from another lender.
Players
Long Beach 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
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93