KPR Centers–PCCP Joint Venture Secures $70 Million Bridge Loan For Tri-State Distribution Center In Claymont
401 Naamans Road
$70,000,000
$133/SF
Building Size
525,000 SF
Asset Type
Industrial
Closing
Mar 23, 2026
AI
The property asset involved in this transaction is a 525,000-square-foot industrial facility located at 401 Naamans Road in Claymont, Delaware. The transaction included a bridge loan amounting to $70,000,000, with the financing secured for a three-year period.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $70,000,000
- Address: 401 Naamans Road
- Market: Claymont, DE
- Loan Type: Bridge
- Lender: Pearlmark
- Brokers: Michael Pagniucci, Chad Orcutt, Christopher Drew, Ethan Rodgers & Michelle Morgenstern - JLL
The bridge financing was arranged by JLL on behalf of a KPR Centers–PCCP joint venture, facilitating the acquisition of the Tri-State Distribution Center. The transaction reflects the collaborative effort of multiple brokers who played a significant role in securing the financing for this industrial asset.
Players
Claymont 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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93