Wells Fargo Bank Provides $84.3M Loan For Industrial Properties In Miami, Bradenton, Forest Park, Greensboro, Phoenix, And Memphis
FINANCED
$84,300,000
+ 3
Florida
See Similar DealsIndustrial1,580,000 SF
Financed 11/11/2020
FINANCED
Wells Fargo Bank Provides $84.3M Loan For Industrial Properties In Miami, Bradenton, Forest Park, Greensboro, Phoenix, And Memphis
1350 Northwest 74th Street
See Similar DealsIndustrial1,580,000 SF
Financed 11/11/2020
+ 3
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$53
Total Square Footage:1,580,000 SF
Transaction Type:Loan
An industrial property located at 1350 NW 74th Street, 3115-3165 Lakewood Ranch Blvd, 5300 Kennedy Road, 404, 420 A&B N. Chimney Road, and 4565 W. Watkins Street, with a total area of 1,580,000 square feet, was involved in a closed transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $84,300,000
- Market: Miami, Bradenton, Forest Park, Greensboro, Phoenix, and Memphis
The lender for this transaction was Wells Fargo Bank, N.A. and the landlord was MDH Partners, represented by Arun Singh. The deal was brokered by Christopher Drew, Maxx Carney, Reid Carleton, Ed Coco, and Carl Beardsley from JLL.
The loan amount for this transaction was $84,300,000 with a five-year, floating-rate loan term.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$84,300,000.00
Monthly NOI$562,000.00
Monthly Debt Service$532,833.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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