New York Life Insurance Co. Provides $74.9M Loan For Industrial Property In Coral Springs
FINANCED
$74,900,000
Florida
See Similar DealsIndustrial78,377 SF
Financed 12/02/2020
FINANCED
New York Life Insurance Co. Provides $74.9M Loan For Industrial Property In Coral Springs
4100 Coral Ridge Drive, Coral Springs, FL, USA
See Similar DealsIndustrial78,377 SF
Financed 12/02/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$955
Total Square Footage:78,377 SF
Transaction Type:Loan
The industrial property located at 4100, 4150, 4250, and 4270 Coral Ridge Drive in Coral Springs has recently been involved in a loan transaction. The loan was secured from New York Life Insurance Co. for a total amount of $74,900,000. The property, owned by Exeter Property Group represented by Ward J. Fitzgerald III, is situated in the Coral Springs market.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $74,900,000
- Address: 4100, 4150, 4250, & 4270 Coral Ridge Drive
- Market: Coral Springs
In this loan transaction, New York Life Insurance Co. acted as the lender, providing the necessary funds. Exeter Property Group, represented by Ward J. Fitzgerald III, served as the landlord in the deal. The loan agreement was finalized on December 2, 2020.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$74,900,000.00
Monthly NOI$499,333.33
Monthly Debt Service$473,418.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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