Steven McCraney Secures $55 Million Refinance Loan For Industrial Asset In Royal Palm Beach
100 Aldi Way, 3569 Us Route 41 & 5418 Davidson Highway
$55,000,000
$27/SF
Building Size
1,997,430 SF
Asset Type
Industrial
Closing
Apr 15, 2025
AI
The property asset involved in this transaction is an industrial asset located at 100 Aldi Way, 3569 US Route 41 & 5418 Davidson Highway. This property has a total square footage of 665,810 and is situated in the markets of Royal Palm Beach, Adairsville, and Concord. The loan amount for this asset is $55,000,000, with the loan type classified as refinance.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $55,000,000
- Address: 100 Aldi Way, 3569 US Route 41 & 5418 Davidson Highway
- Square Footage: 665,810
- Market: Royal Palm Beach, Adairsville & Concord
- Landlord: Steven McCraney
- Brokerage Firm: JLL
- Brokers: Melissa Rose, Michael DiCosimo & Nicole Barba
- Loan Type: Refinance
Key individuals involved in the transaction include the landlord Steven McCraney and the brokers from JLL, namely Melissa Rose, Michael DiCosimo, and Nicole Barba, who facilitated the refinancing of the industrial asset.
Players
West Palm Beach 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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93