JLL Capital Markets Secures $24M Loan For Silver Star Commerce Center Orlando
3600 Silver Star Road & 3717 Mercy Star Court
$24,000,000
$47/SF
Building Size
509,830 SF
Asset Type
Industrial
Closing
Jun 17, 2024
AI
The Silver Star Commerce Center in Orlando, spanning 254,915 square feet and located at 3600-3802 Silver Star Road & 3717-3763 Mercy Star Court, secured a $24 million loan from Webster Bank. This industrial property, owned by Denholtz Properties and Long Wharf Capital, is currently 95% occupied by 29 tenants. It boasts 69 loading docks, 20 drive-in doors, and 508 parking spaces.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $24,000,000
- Address: 3600-3802 Silver Star Road & 3717-3763 Mercy Star Court
- Market: Orlando
- Asset Size: 254,915 SF
- Lender: Webster Bank
- Landlord: Denholtz Properties; Long Wharf Capital
- Brokers: Jon Mikula, Jovi Rodriguez, Melissa Rose, Michael Klein & Salvatore Buzzerio - JLL
JLL Capital Markets was instrumental in facilitating the financing deal between Webster Bank and the owners of Silver Star Commerce Center. The involvement of Jon Mikula, Jovi Rodriguez, Melissa Rose, Michael Klein, and Salvatore Buzzerio from JLL highlights the collaborative effort behind the successful transaction.
Players
Orlando 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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93