Updated Feb 16, 2024
ODAN Capital And Present Equity Acquires Industrial Properties In Lake Worth & Margate, FL For $3.05M Loan
1106 5th Avenue South, Lake Worth, Florida 33460, United States
$3,055,000
$107/SF
Building Size
28,500 SF
Asset Type
Industrial
Closing
Dec 31, 2021
About this deal
AI
A 28,500 square foot industrial property located at 1106 5th Avenue S. and 5621, 5615, 5605, and 5601 NW 8th Street in Lake Worth and Margate, FL, has been involved in a recent transaction. The property was acquired through an acquisition loan.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,055,000
- Loan Type: Acquisition
- Loan Terms: The acquisition of the two industrial office properties were financed with a 10-year, non-recourse loan. The loan features 2 years of interest-only payments at a fixed rate of 3.85%.
The landlord for the property is ODAN Capital and Present Equity, represented by Daniel Abrahams, Oniel Samuel, and Shai Moschowits. The buyer's representative in this deal is Jamie Posner from EXP Realty. The loan for the transaction was facilitated by Eric Trombly from BlackBearCapitalPartners.
Players
Lake Worth 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
5.19%
Cash-on-Cash
-1.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93