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14250 Aviation Drive Opa Locka

CIBC Provides $78.2M Loan For Industrial Properties In Opa Locka
FINANCEDIndustrial

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

Bridge Development Partners
Bridge Development PartnersLandlord

Opa Locka 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

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93