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15500 Venture Way, Jupiter,...

Valley National Bank Provides $54.8M Construction Loan For Industrial Property In Jupiter
FINANCEDIndustrial

Valley National Bank Provides $54.8M Construction Loan For Industrial Property In Jupiter

15500 Venture Way, Jupiter, Florida

$54,760,000

$98/SF

Building Size

555,000 SF

Asset Type

Industrial

Closing

Sep 26, 2022

AI

A construction loan has been secured for an industrial property located at 15500 Venture Way in Jupiter. The property spans 555,000 square feet and sits on 45.7 acres. The loan has been provided by Valley National Bank for a total amount of $54,760,000.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $54,760,000
  • Address: 15500 Venture Way
  • Market: Jupiter
  • Size: 555,000 square feet
  • Acres: 45.7

The property is owned by TPA Group, represented by Bradford Smith & Nathan Pramik. They have secured a construction loan from Valley National Bank for the development of this industrial asset in Jupiter.

Players

Valley National Bank
Valley National BankLender

Bradford Smith

TPA Group

Landlord

$152.9M

vol

4 deals

Landlord

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

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93