Updated Oct 29, 2024
Secures $3.5M Refinance Loan For Delray Beach Industrial Property
415 Se 1st Ave Delray Beach, Fl 33444, Usa
$3,500,000
$102/SF
Building Size
34,232 SF
Asset Type
Industrial
Closing
Jun 28, 2023
About this deal
AI
The industrial property located at 415-475 SE 1st Avenue in Delray Beach, FL, has undergone a refinancing transaction. The property spans 34,232 square feet and is owned by , represented by . The deal was facilitated by Eric Trombly of Black Bear Capital Partners.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $3,500,000
- Loan Type: Refinance
- Loan Terms: The industrial property, spanning 32,232 SF, was refinanced via a 5-year fixed-rate loan and interest-only payments.
The loan amount for the refinancing transaction was $3,500,000. It involved a 5-year fixed-rate loan with interest-only payments. The industrial property, which spans 32,232 square feet, was the subject of the refinancing deal. , represented by , serves as the landlord of the property. Eric Trombly, from Black Bear Capital Partners, acted as the broker.
Players
Miami 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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93