Updated Oct 28, 2024
Thorofare Capital Refinances Industrial Property In Miami For $20M
17707 Northwest Miami Court, Miami, FL 33169, USA
$20,000,000
$38/SF
Building Size
523,800 SF
Asset Type
Industrial
Closing
Oct 26, 2021
About this deal
AI
Thorofare Capital has provided a $20,000,000 loan for the refinance of an industrial property located at 17707 Northwest Miami Court in Miami. The property spans across 12 acres and is owned by Relentless Capital and Drake Real Estate Partners.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Address: 17707 Northwest Miami Court
- Market: Miami
- Landlord: Relentless Capital & Drake Real Estate Partners
The loan transaction was facilitated by Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, and Daniel Matz from Newmark.
On the Map
$20,000,000
$38/SF
Industrial
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Players
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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93