Updated Sep 8, 2026
Snowball Development Secures $8.2 Million Refinance Loan For 96,000 SF Industrial Asset In Norwich, CT
5 Wisconsin Avenue
$8,200,000
$85/SF
Building Size
96,000 SF
Asset Type
Industrial
Closing
Aug 7, 2026
About this deal
AI
The asset involved in the transaction is an industrial property located at 5 Wisconsin Avenue in Norwich, CT, encompassing a total of 96,000 square feet. The borrower for this transaction is Snowball Development, which is undertaking a refinance loan amounting to $8,200,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $8,200,000
- Loan Type: Refinance
- Loan Terms: 5yr Fixed, 70% LTV, 185bp Spread, 1yr IO, 30yr Amort, Non-Recourse
The brokers representing the deal are Adrian Edery and Josh Eliassian from Two50 Capital Group, who played a significant role in facilitating this transaction.
Players
Norwich 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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93