BEB Capital Provides $2.3M Bridge Loan For Industrial Property In Largo
12505 66th St N
Building Size
—
Asset Type
—
Closing
Jun 15, 2022
About this deal
AI
A $2.3 million bridge loan has been provided by BEB Capital to Hersh Equity Group for the acquisition of a 25,000 square-foot industrial property located at 12505 66th Street North in Largo, Florida. This transaction marks BEB Capital's first in the Tampa/St. Petersburg area.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,300,000
- Address: 12505 66th St N
- Market: Largo
- Loan Type: Acquisition
The lenders involved in this deal are Lee Brodsky, Sean Silverbrook, and Keyvan Ghaytanchi of BEB Capital. The landlord, Juda Hersh, represents Hersh Equity Group.
According to Sean Silverbrook, Vice President of BEB Lending, the Tampa/St. Petersburg market has experienced significant growth in the past two years. BEB Capital aims to continue finding lending opportunities in this thriving market, as well as in other key markets across the United States.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93