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JLL Capital Markets Secures $24M Loan For Silver Star Commerce Center Orlando

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FINANCED
$24,000,000
Melissa Rose
Jon Mikula
+ 2

Florida

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Industrial509,830 SF
Financed 06/17/2024
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FINANCED

JLL Capital Markets Secures $24M Loan For Silver Star Commerce Center Orlando

3600 Silver Star Road & 3717 Mercy Star Court

See Similar Deals
Industrial509,830 SF
Financed 06/17/2024
Melissa Rose
Jon Mikula
+ 2
Contact now

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$47
Total Square Footage:509,830 SF
Transaction Type:Loan

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:

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

Michael Klein
77 deals$2.6B volume(973) 549-2005
BROKER

Jon Mikula
JLL
42 deals$1.8B volume(973) 549-2006
BROKER

Melissa Rose
JLL
54 deals$3.2B volume
BROKER

Salvatore Buzzerio
JLL
21 deals$817.7M volume
BROKER

Jovi Rodriguez
JLL
17 deals$843.4M volume(610) 849-3896
BROKER

Webster Bank
LENDER

Details

FINANCED
IMAGE: 06/17/2024 ADDRESS: 3600-3802 Silver Star Road & 3717-3763 Mercy Star Court MARKET: Orlando ASSET TYPE: Industrial ~ SF: 254,915 LENDER: Webster Bank LANDLORD: Denholtz Properties; Long Wharf Capital BROKERS: Jon Mikula, Jovi Rodriguez, Melissa Rose, Michael Klein & Salvatore Buzzerio - JLL LOAN AMOUNT: $24,000,000 NOTE: JLL Capital Markets arranged $24 million in financing from Webster Bank to recapitalize Silver Star Commerce Center, a 254,915-square-foot industrial park in Orlando. The property, 95% occupied by 29 tenants, features 69 loading docks, 20 drive-in doors, and 508 parking spaces.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$24,000,000.00

Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00