Updated Oct 28, 2024
Wells Fargo Provides $40.8M Construction Loan For Industrial Development In Lake Park
1600 Silver Beach Road, Lake Park, FL, USA
$40,780,000
$107/SF
Building Size
380,000 SF
Asset Type
Industrial
Closing
Nov 22, 2021
About this deal
AI
The industrial development located at 1600 Silver Beach Road in Lake Park has recently secured a construction loan. This property spans across 380,000 square feet and sits on 24.2 acres. The loan amount for this project is $40,780,000 and it is being provided by Wells Fargo.
Summary of transaction details
- Property Type: Industrial Development
- Transaction Amount: $40,780,000
- Address: 1600 Silver Beach Road
- Market: Lake Park
- Size: 380,000 square feet
- Acres: 24.2
Ridgeline Property Group and Mitchell Property Realty, represented by Ed Mitchell, are the landlords of this industrial development.
Players
Riviera Beach Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Browse Riviera Beach industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93