Updated Oct 28, 2024
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
$74,400,000
$120/SF
Building Size
615,251 SF
Asset Type
Industrial
Closing
Sep 5, 2022
About this deal
AI
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.
On the Map
$74,400,000
$120/SF
Industrial
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Players
Hialeah 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93