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3705 62nd Ave N

RRA Capital Provides $11.21 Million Loan For Industrial Property In Pinellas Park
FINANCEDIndustrial

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:

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

Max Kra

Ackman-Ziff

Broker

$214.3M

vol

6 deals

Broker
RRA Capital
RRA CapitalLender
Ultimate Realty
Ultimate RealtyLandlord

Pinellas Park Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

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