City National Bank Of Florida Provides $12M Loan For Industrial Property In Doral, Tom Kimen And Edward Easton's Easton Group Identified As Landlord
FINANCED
$12,000,000
Florida
See Similar DealsIndustrial127,000 SF
Financed 03/01/2021
FINANCED
City National Bank Of Florida Provides $12M Loan For Industrial Property In Doral, Tom Kimen And Edward Easton's Easton Group Identified As Landlord
1500 Northwest 97th Avenue, Doral, FL, USA
See Similar DealsIndustrial127,000 SF
Financed 03/01/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$94
Total Square Footage:127,000 SF
Transaction Type:Loan
The industrial property located at 1500 Northwest 97th Avenue in Doral has been involved in a recent transaction. The property spans 127,000 square feet and sits on a 7-acre lot. The deal was facilitated by The Easton Group, represented by Edward Easton and Tom Kimen. The loan for the transaction was provided by City National Bank of Florida, amounting to $12,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $12,000,000
- Address: 1500 Northwest 97th Avenue, Doral
- Market: Doral
- Landlord: The Easton Group - Edward Easton & Tom Kimen
- Square Footage: 127,000
- Lot Size: 7 acres
- Lender: City National Bank of Florida
The Easton Group, led by Edward Easton and Tom Kimen, played a pivotal role in facilitating the transaction of the industrial property located at 1500 Northwest 97th Avenue in Doral. City National Bank of Florida provided a loan of $12,000,000 for the deal. Both the buyer and seller benefited from the expertise and representation of The Easton Group's experienced team during this transaction.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,000,000.00
Monthly NOI$80,000.00
Monthly Debt Service$75,848.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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