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1500 Northwest 97th Avenue,...

City National Bank Of Florida Provides $12M Loan For Industrial Property In Doral, Tom Kimen And Edward Easton's Easton Group Identified As Landlord
FINANCEDIndustrial

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

$12,000,000

$94/SF

Building Size

127,000 SF

Asset Type

Industrial

Closing

Feb 28, 2021

AI

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

City National Bank of Florida
City National Bank of FloridaLender

Edward Easton

The Easton Group

Landlord

$118.4M

vol

7 deals

Landlord
The Easton Group
The Easton GroupLandlord

Doral 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

1.32%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93