Drew DeWitt And David Archibald Of East Capital Partners Close $62.31M Loan For Industrial Property In Miami
3308 Northwest 72nd Avenue
$62,306,000
$167/SF
Building Size
371,976 SF
Asset Type
Industrial
Closing
May 27, 2025
AI
The property asset involved in this transaction is located at 3108-3308 Northwest 72nd Avenue in Miami, comprising an industrial asset with a total square footage of 371,976. The acquisition loan amount is $62,306,000, with terms set at a 3+1+1 structure, featuring a full term interest-only repayment plan.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $62,306,000
- Loan Type: Acquisition
- Loan Terms: 3+1+1 term, full term interest only
- Landlord: Drew DeWitt & David Archibald - East Capital Partners
- Brokers: Melissa Rose & Jovi Rodriguez - JLL
The key individuals involved in the deal include landlords Drew DeWitt and David Archibald, representing East Capital Partners. The brokerage team comprises Melissa Rose and Jovi Rodriguez from JLL, who facilitated the transaction.
Players
Miami Springs Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93