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Cushman & Wakefield Secures $23.7M Loan For Snowball Developments Industrial Property In South Windsor

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FINANCED
$23,700,000
John Alascio
Alex Lapidus Okin
+ 1

Connecticut

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Industrial507,733 SF
Financed
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FINANCED

Cushman & Wakefield Secures $23.7M Loan For Snowball Developments Industrial Property In South Windsor

301 Governors Highway

See Similar Deals
Industrial507,733 SF
Financed
John Alascio
Alex Lapidus Okin
+ 1
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Summary

CONNECTICUT
Asset Type:Industrial
Price Per Square Foot:$46
Total Square Footage:507733 SF
Transaction Type:Loan

The property involved in the transaction is an industrial asset located at 301 Governors Highway in South Windsor, CT, consisting of 507,733 square feet. The acquisition financing secured was for a total of $23,700,000.

Summary of transaction details:

Cushman & Wakefield played a pivotal role in securing the acquisition financing from Prime Finance, facilitating Snowball Developments' purchase of the industrial property. The transaction includes key players such as Brian Ker representing Snowball Developments, along with brokers Alex Lapidus Okin, Jeff Dybas, John Alascio, and Meredith Donovan from Cushman & Wakefield.

Players

Alex Lapidus Okin
27 deals$7.6B volume(212) 841-9239
BROKER

John Alascio
Cushman & Wakefield
54 deals$5.1B volume
BROKER

Meredith Donovan
Cushman & Wakefield
17 deals$3.8B volume
BROKER

Jeff Dybas
Cushman & Wakefield
3 deals$58.9M volume
BROKER

Prime Finance
LENDER

Details

FINANCED
IMAGE: Brian Ker , Alex Lapidus Okin, Jeff Dybas, John Alascio & Meredith Donovan DATE: 02/26/2025 ADDRESS: 301 Governors Highway MARKET: South Windsor, CT ASSET TYPE: Industrial ~ SF: 507,733 LENDER: Prime Finance LANDLORD: Brian Ker - Snowball Developments BROKERS: Alex Lapidus Okin, Jeff Dybas, John Alascio & Meredith Donovan - Cushman & Wakefield (@Cushwake) LOAN AMOUNT: $23,700,000 LOAN TYPE: Acquisition NOTE: Cushman & Wakefield secured $23.7M in acquisition financing from Prime Finance for Snowball Developments’ purchase of a 507,733-square-foot industrial property at 301 Governors Hwy. in South Windsor, CT.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,700,000.00

Monthly NOI$158,000.00
Monthly Debt Service$149,800.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00