Updated Dec 4, 2024
Ross Perot Jr. Secures $70M Acquisition Loan From NYSTRS For Jupiter Warehouse
14490 Corporate Road North
$70,000,000
$70/SF
Building Size
1,000,450 SF
Asset Type
Industrial
Closing
May 22, 2024
About this deal
AI
The industrial property located at 14490 Corporate Road North in Jupiter, Florida, spans 1,000,450 square feet and was recently acquired for $106.5 million. It comprises 986,675 square feet of warehouse space and 13,775 square feet of office space. The acquisition loan secured for this property amounts to $70,000,000 and was provided by NYSTRS.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $106.5 million
- Lender: NYSTRS | New York State Teachers' Retirement System
- Landlord: Ross Perot Jr. - Hillwood
- Asset Size: 1,000,450 SF
Hillwood, led by Ross Perot Jr., made their first industrial investment in South Florida with the purchase of this warehouse leased to Amazon. This property marks their expansion into the South Florida market, following previous investments in Daytona Beach and Jacksonville.
On the Map
$70,000,000
$70/SF
Industrial
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Players
Jupiter 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
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93