Updated Oct 29, 2024
ConnectOne Bank Provides $3.15M Refinance Loan For Industrial Property In Pompano Beach
1301 Southwest 1st Court, Pompano Beach, Florida 33069, United States
$315,000,000
$3,351,063/SF
Building Size
94 SF
Asset Type
Industrial
Closing
Jan 6, 2022
About this deal
AI
The industrial property located at 1301 SW 1st Ct. in Pompano Beach, South Florida, was recently involved in a loan transaction. The property spans an area of 94,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,150,000.00
- Loan Type: Refinance
- Loan Terms: 7 Years @ 3.75%, 2 Years Interest Only, Non-Recourse
The loan for this transaction was provided by ConnectOne Bank. The landlord, Ideal Capital Group, was involved in the deal as well. The brokers who facilitated the transaction were Jonathan Aghravi and Tim Cox from JBA Equities LLC.
Players
Pompano 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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93