CIBC Provides $78.2M Loan For Industrial Properties In Opa Locka
14250 Aviation Drive Opa Locka
$78,240,000
$132/SF
Building Size
589,887 SF
Asset Type
Industrial
Closing
Mar 23, 2021
AI
The industrial properties located at 5590 NW 145th Street, 14150 NW 56th Court, and 14250 Aviation Drive in Opa Locka have been involved in a loan transaction. The total square footage of these properties is 589,887, and they sit on 50 acres of land. The lender for this loan is CIBC, and the loan amount is $78,240,000. The landlord of these properties is Bridge Development Partners. CBRE acted as the broker in this deal.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $78,240,000
- Address: 5590 NW 145th Street, 14150 NW 56th Court, and 14250 Aviation Drive
- Market: Opa Locka
- Square Footage: 589,887
- Acres: 50
Anthony Pricco, Steve Groetsema, Steve Poulos, and John Maduros are the individuals involved in this transaction. CIBC provided the loan for the deal, and Bridge Development Partners is the landlord. The broker representing the transaction is CBRE.
Players
Opa Locka 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
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93