Extra Space Capital Provides $22.5M Bridge Loan For Miramar Industrial Property
FINANCED
$22,500,000
Florida
See Similar DealsIndustrial122,837 SF
Financed 02/21/2023
FINANCED
Extra Space Capital Provides $22.5M Bridge Loan For Miramar Industrial Property
3310 South University Drive
See Similar DealsIndustrial122,837 SF
Financed 02/21/2023
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$183
Total Square Footage:122,837 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,500,000.00
Monthly NOI$150,000.00
Monthly Debt Service$142,215.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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