Updated Oct 29, 2024
Extra Space Capital Provides $22.5M Bridge Loan For Miramar Industrial Property
3310 South University Drive
$22,500,000
$183/SF
Building Size
122,837 SF
Asset Type
Industrial
Closing
Feb 21, 2023
About this deal
AI
The industrial property located at 3310 South University Drive in Miramar has been involved in a recent loan transaction. The property spans a total of 122,837 square feet, making it a sizable asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $22,500,000
- Address: 3310 South University Drive, Miramar
Extra Space Capital provided a bridge loan for this transaction. The loan amount was $22,500,000, serving as crucial financial support for the deal.
The landlord in this transaction is The Feldman Companies, represented by Mitchell Feldman and Jordan Feldman. They played an instrumental role in the property transaction, ensuring its successful completion.
Players
Market 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
0.71%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93