Updated Dec 14, 2024
PGIM Provides $40M Refinance Loan For Industrial Property In Pompano Beach
1550 Northwest 18th Street, Pompano Beach, FL, USA
$40,000,000
$105/SF
Building Size
380,358 SF
Asset Type
Industrial
Closing
Aug 17, 2021
About this deal
AI
The industrial property located at 1550 - 1700 NW 18th Street in Pompano Beach has undergone a refinancing transaction. The property covers a total area of 380,358 square feet.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $40,000,000
- Address: 1550 - 1700 NW 18th Street, Pompano Beach
- Market: Pompano Beach
The lender in this refinancing deal is PGIM, while the landlord is BlackRock. CBRE represented the parties involved in the transaction, with Amy Julian, Christian Lee, Jose Lobon, and Royce Rose serving as the brokers.
Players
Pompano Beach 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93