Drew DeWitt And David Archibald Of East Capital Partners Close $62.31M Loan For Industrial Property In Miami
FINANCED
$62,306,000
Florida
See Similar DealsIndustrial371,976 SF
Financed 05/28/2025
FINANCED
Drew DeWitt And David Archibald Of East Capital Partners Close $62.31M Loan For Industrial Property In Miami
3308 Northwest 72nd Avenue
See Similar DealsIndustrial371,976 SF
Financed 05/28/2025
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$167
Total Square Footage:371,976 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$62,306,000.00
Monthly NOI$415,373.33
Monthly Debt Service$393,816.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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