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5402 Breckenridge Parkway, ...

BlackRock Provides $26.3M Loan For Tampa Industrial Property
FINANCEDIndustrial

BlackRock Provides $26.3M Loan For Tampa Industrial Property

5402 Breckenridge Parkway, Tampa, FL, USA & 5402 Breckenridge Parkway, Tampa, FL, USA

$26,250,000

$39/SF

Building Size

668,279 SF

Asset Type

Industrial

Closing

Sep 21, 2020

AI

The industrial property located at 5402-5460 Breckenridge Parkway in Tampa was recently involved in a closed transaction. The property spans a total square footage of 334,279 and is owned by The Arden Group & Avistone. The transaction was facilitated by Jillian Mariutti and Brian Gaswirth of JLL, who represented the interests of the landlord in the deal. The loan for this transaction was provided by BlackRock, amounting to a total of $26,250,000.

Summary of transaction details:

The involvement of Jillian Mariutti and Brian Gaswirth of JLL highlights the crucial role played by these brokers in the transaction. With their expertise and representation, they ensured a successful deal was reached between the parties involved. The loan provided by BlackRock further enabled the completion of this transaction, securing the necessary funds for the deal.

Players

Brian Gaswirth

JLL

Broker

$6.3B

vol

45 deals

Broker
Arden Group
Arden GroupLender
Arden Group
Arden GroupLandlord

Tampa 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

0.60%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93