Redfearn Capital Secures $48 Million Loan For Jacksonville Industrial Portfolio From Prospect Ridge
5748, 5867, 5885, 9855 Mining Drive, 600 Suemac Road, 5875 Highway Avenue
$48,000,000
$126/SF
Building Size
380,589 SF
Asset Type
Industrial
Closing
May 11, 2026
AI
An industrial portfolio consisting of eight light industrial properties was involved in this transaction. The properties total 380,589 square feet and are located at 5748, 5867, 5885, 9855 Mining Drive, 600 Suemac Road, 5875 Highway Avenue, and 3010 Powers Avenue, in the Jacksonville, FL market. A loan amounting to $48,000,000 was secured against this portfolio.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $48,000,000
- Lender: Prospect Ridge
- Landlord: Alex Redfearn - Redfearn Capital
- Asset Size: 380,589 square feet
- Locations: 5748, 5867, 5885, 9855 Mining Drive, 600 Suemac Road, 5875 Highway Avenue & 3010 Powers Avenue, Jacksonville, FL
Alex Redfearn of Redfearn Capital represented the landlord in securing financing through Prospect Ridge. The loan encompasses a combination of front-load, rear-load, and cross-dock facilities situated within the Westside and Southside submarkets, providing convenient access to major interstate and airport routes.
Players
Labelle 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93