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

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FINANCED
$78,240,000

Florida

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Industrial589,887 SF
Financed 03/24/2021
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Property Image
FINANCED

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

14250 Aviation Drive Opa Locka

See Similar Deals
Industrial589,887 SF
Financed 03/24/2021

Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$132
Total Square Footage:589,887 SF
Transaction Type:Loan

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.

Details

FINANCED
IMAGE: Anthony Pricco, Steve Groetsema, Steve Poulos & John Maduros DATE: 03/24/2021 ADDRESS: 5590 NW 145th Street, 14150 NW 56th Court & 14250 Aviation Drive MARKET: Opa Locka ASSET TYPE: Industrial ~ SF: 589,887 ~ ACRES: 50 LENDER: CIBC LANDLORD: Bridge Development Partners BROKER: CBRE LOAN AMOUNT: $78,240,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$78,240,000.00

Monthly NOI$521,600.00
Monthly Debt Service$494,530.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00