Updated May 12, 2025
Nuveen Green Capital Provides $32.6 Million Loan For IM Critical's Data Center Modernization In Miami
100 Northeast 80th Terrace
$32,600,000
$32,600,000/SF
Building Size
1 SF
Asset Type
Industrial
Closing
Mar 27, 2025
About this deal
AI
The asset involved in this context is an industrial property located at 100 Northeast 80th Terrace in the Miami market. The property has undergone modernization as part of a construction project, with a loan amounting to $32,600,000 secured to support its development.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32,600,000
- Lender: Heather McGrath, Spencer Olson, Jonathan Kloos & Joseph Zhong - Nuveen Green Capital
- Landlord: iM Critical
- Loan Type: Construction
The loan was facilitated by the Nuveen Green Capital Deal team, which has a focus on supporting projects through C-PACE financing. This financing was strategically utilized by iM Critical to refinance the project mid-construction, achieving favorable terms that contributed to the project's completion. The deal highlights the potential of C-PACE financing to promote energy and water efficiency in real estate developments.
On the Map
$32,600,000
$32,600,000/SF
Industrial
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Players
Miami 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93