Foundry Commercial & Wheelock Street Capital Secure $52.3M Construction Loan In Boynton Beach
3800 South Congress Avenue
$52,300,000
$114/SF
Building Size
457,110 SF
Asset Type
Industrial
Closing
Jun 3, 2024
AI
The industrial property located at 3800 South Congress Avenue in Boynton Beach spans 457,110 square feet and was involved in a recent transaction. Foundry Commercial & Wheelock Street Capital acted as the landlords for this asset. The property secured a substantial construction loan amounting to $52,300,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $52,300,000
- Landlord: Foundry Commercial & Wheelock Street Capital
- Landlord's Representatives: Melissa Rose, Mateo Bolivar, and Steven Klein - JLL
The deal was facilitated by Melissa Rose, Mateo Bolivar, and Steven Klein from JLL, who represented the landlords during the loan transaction, showcasing their pivotal role in the financing process.
Players
Boynton Beach 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93