RRA Capital Provides $11.21 Million Loan For Industrial Property In Pinellas Park
3705 62nd Ave N & 1871 Massaro Blvd
$11,212,500
$182/SF
Building Size
61,410 SF
Asset Type
Industrial
Closing
Dec 22, 2022
AI
The property involved in the transaction is an industrial asset located at 3705 62nd Ave N in Pinellas Park. The loan amount secured for this asset is $11,212,500.00.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,212,500.00
- Lender: RRA Capital
- Brokers: Max Kra, Ackman-Ziff
Max Kra from Ackman-Ziff represents the brokerage in this transaction, facilitating the loan process with RRA Capital for the industrial asset situated in the Pinellas Park market.
Players
Pinellas Park 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
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93