Sonny Kalsi & Abbe Borok Of BGO Provide $72.3M Construction Loan For Industrial Property In Polk City, FL
5830 Mount Olive Road
$72,275,418
$187/SF
Building Size
386,000 SF
Asset Type
Industrial
Closing
Dec 28, 2023
AI
An industrial property located at 5830 Mt Olive Rd in Polk City, FL has been involved in a closed transaction. The property spans an area of approximately 386,000 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $72,275,418
- Market: Polk City, FL
- Lender: Sonny Kalsi & Abbe Borok - BGO
- Landlord: Stephen Ross, Jeff Blau, Bruce Beal, Michael Winson - Related Fund Management
- Landlord's Representative: Jordan Roeschlaub, Dustin Stolly & Nick Scribani - Newmark
- Loan Type: Construction Loan
Sonny Kalsi and Abbe Borok from BGO provided a construction loan of $72,275,418 for the industrial property at 5830 Mt Olive Rd. The property is owned by Stephen Ross, Jeff Blau, Bruce Beal, and Michael Winson from Related Fund Management. The landlord's representatives in this deal were Jordan Roeschlaub, Dustin Stolly, and Nick Scribani from Newmark.
Players
Polk City 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93