New York Life Insurance Co. Provides $74.9M Loan For Industrial Property In Coral Springs
4100 Coral Ridge Drive, Coral Springs, FL, USA
$74,900,000
$955/SF
Building Size
78,377 SF
Asset Type
Industrial
Closing
Dec 1, 2020
AI
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.
Coral Springs 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93