Wells Fargo Provides $40.8M Construction Loan For Industrial Development In Lake Park
FINANCED
$40,780,000
Florida
See Similar DealsIndustrial380,000 SF
Financed 11/22/2021
FINANCED
Wells Fargo Provides $40.8M Construction Loan For Industrial Development In Lake Park
1600 Silver Beach Road, Lake Park, FL, USA
See Similar DealsIndustrial380,000 SF
Financed 11/22/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$107
Total Square Footage:380,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$40,780,000.00
Monthly NOI$271,866.67
Monthly Debt Service$257,757.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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