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1450 Bell Avenue, Fort Pier...

Sheridan Capital Provides $9M Purchase Loan For Fort Pierce Industrial Property
FINANCEDIndustrial

Sheridan Capital Provides $9M Purchase Loan For Fort Pierce Industrial Property

1450 Bell Avenue, Fort Pierce, Florida 34982, United States

$9,000,000

Building Size

Asset Type

Industrial

Closing

May 23, 2022

AI

An industrial property located at 1450 Bell Avenue in Fort Pierce, FL has been involved in a recent closed transaction. The property, with an estimated market value, was purchased for $9,000,000.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $9,000,000
  • Address: 1450 Bell Avenue, Fort Pierce, FL
  • Market: Fort Pierce, FL

The loan for this purchase transaction was provided by Sheridan Capital, with Joe Fishman representing the lender. The deal was facilitated by brokers Isaac Filler, Yossi Koschitzki, and Elliot Levy from the Meridian Capital Group.

Players

Isaac Filler

Filler Capital

Broker

$1.7B

vol

77 deals

Broker
Joe Fishman

Joe Fishman

Sheridan Capital

Lender

$226.4M

vol

18 deals

Lender
Sheridan Capital
Sheridan CapitalLender

Fort Pierce Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.76%

Cash-on-Cash

-0.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93