Dalfen Industrial Secures $74.4M Construction Loan In Miami, Lake Park, And West Palm Beach
FINANCED
Florida
See Similar DealsIndustrial615,251 SF
Financed 09/06/2022
FINANCED
Dalfen Industrial Secures $74.4M Construction Loan In Miami, Lake Park, And West Palm Beach
11250 W 36th Ave, Miami Lakes, Florida 33018, United States
See Similar DealsIndustrial615,251 SF
Financed 09/06/2022
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$120
Total Square Footage:615,251 SF
Transaction Type:Loan
Dalfen Industrial, represented by Murray Dalfen & Sean Dalfen, has secured a $74,400,000 construction loan from TD Bank for an industrial property located at 11250 West 36th Ave, 2850 & 2886 Ranch House Road in Miami, Lake Park & West Palm Beach. The property spans over 615,251 square feet, making it a significant asset in the industrial market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $74,400,000
- Address: 11250 West 36th Ave, 2850 & 2886 Ranch House Road
- Market: Miami, Lake Park & West Palm Beach
- Square Footage: 615,251
- Lender: TD Bank
- Landlord: Dalfen Industrial - Murray Dalfen & Sean Dalfen
- Loan Type: Construction Loan
The loan provided by TD Bank will fuel the construction of the industrial property, further expanding Dalfen Industrial's portfolio in the Miami, Lake Park & West Palm Beach market. This strategic move showcases their commitment to meeting the growing demand for industrial spaces in these areas.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$74,400,000.00
Monthly NOI$496,000.00
Monthly Debt Service$470,258.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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