Square Mile Capital Provides $97.5M Loan For Development Site In Fort Myers
FINANCED
$97,500,000
Florida
See Similar DealsDevelopment Site819,000 SF
Financed 09/06/2022
FINANCED
Square Mile Capital Provides $97.5M Loan For Development Site In Fort Myers
6115-6150 Tri County Commerce Way, Fort Myers, FL 33905
See Similar DealsDevelopment Site819,000 SF
Financed 09/06/2022
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$119
Total Square Footage:819,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$97,500,000.00
Monthly NOI$650,000.00
Monthly Debt Service$616,266.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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