Updated Feb 16, 2024
Square Mile Capital Provides $97.5M Loan For Development Site In Fort Myers
6115-6150 Tri County Commerce Way, Fort Myers, FL 33905
$97,500,000
$119/SF
Building Size
819,000 SF
Asset Type
Development Site
Closing
Sep 5, 2022
About this deal
AI
The loan for the development site located at 6115-6150 Tri County Commerce Way, known as the Tri County 75 Industrial Campus in Fort Myers, has closed. The transaction took place on 09/06/2022.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $97,500,000
- Market: Fort Myers
- Building Square Footage: 819,000
- Lender: Square Mile Capital - David Greenburg
- Landlord: Glenstar - Michael Klein; Columnar Holdings - Daniel Traylor
The loan, totaling $97,500,000, was provided by Square Mile Capital, with David Greenburg representing the lending company. The property is owned by Glenstar, represented by Michael Klein, and Columnar Holdings, represented by Daniel Traylor. The address of the development site is 6115-6150 Tri County Commerce Way in Fort Myers. It is a development site with a building square footage of 819,000.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93