Wells Fargo Bank And Capital One Provide $357.77M Loan For Industrial Acquisition In Multiple Markets
1450 Brickell Avenue
$357,776,000
$65/SF
Building Size
5,492,692 SF
Asset Type
Industrial
Closing
Dec 5, 2024
AI
The transaction involves a total loan amount of $357,776,000 for the acquisition of an industrial asset with a total square footage of 5,492,692. The address is various, situated within the markets of Austin, TX, Houston, TX, Chicago, IL, Harrisburg, PA, and Greenville, SC.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $357,776,000
- Lender: Wells Fargo Bank, N.A. and Capital One, N.A.
- Landlord: Jeffrey Small & Nathan Balmes - MDH Partners
- Landlord's Representative: Chris Drew, Brian Gaswirth, Michael Cosby, Jimmy Calvo, Nicole Barba & Ryan Ade - JLL
- Loan Type: Acquisition
This deal features significant involvement from multiple representatives at JLL, who facilitated the transaction on behalf of the landlords. The lenders, Wells Fargo Bank and Capital One, played a crucial role in underwriting the loan for this transaction.
Players
Miami 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93