Updated Oct 28, 2024
CIBC Provides $20M Construction Loan For Industrial Property In Medley
11002 Northwest South River Drive
$20,000,000
$114/SF
Building Size
174,348 SF
Asset Type
Industrial
Closing
Mar 28, 2022
About this deal
AI
A construction loan has been secured for an industrial property located at 11002 NW South River Dr in the Medley market. The property spans 174,348 square feet and is owned by Hilco Redevelopment Partners. The loan, in the amount of $20,000,000, was provided by CIBC. The deal was facilitated by brokers Charles Foschini, Christopher Apone, and Robert Iudice from Berkadia.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Address: 11002 NW South River Dr
- Market: Medley
- Asset Type: Industrial
- Square Footage: 174,348
- Lender: CIBC
- Landlord: Hilco Redevelopment Partners
- Brokers: Charles Foschini, Christopher Apone, and Robert Iudice - Berkadia
Charles Foschini, Christopher Apone, and Robert Iudice from Berkadia played a critical role in facilitating this construction loan for the industrial property at 11002 NW South River Dr in Medley. Their expertise and negotiation skills were instrumental in securing the $20,000,000 loan from CIBC, allowing for the development of the property under the ownership of Hilco Redevelopment Partners.
On the Map
$20,000,000
$114/SF
Industrial
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Players
Medley 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93