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Life Insurance Company Provides $17.3M Loan For Acquisition Of Industrial Warehouse In Doral

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FINANCED
$17,300,000

Florida

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Industrial213,131 SF
Financed 04/16/2021
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FINANCED

Life Insurance Company Provides $17.3M Loan For Acquisition Of Industrial Warehouse In Doral

6950 Northwest 77th Court, Doral, FL, USA

See Similar Deals
Industrial213,131 SF
Financed 04/16/2021
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$81
Total Square Footage:213,131 SF
Transaction Type:Loan

An industrial warehouse located at 6950 NW 77th Court in Doral was recently involved in a property transaction. The deal took the form of an acquisition, with the buyer securing a loan from a life insurance company. The loan amount was $17,300,000, and the terms of the loan spanned 7 years. The property is owned by Ivy Realty, represented by Drew Dewitt and David Archibald. Melissa Rose of an undisclosed agency acted as the broker in the transaction.

Summary of transaction details

  • Property Type: Industrial Warehouse
  • Transaction Amount: $17,300,000
  • Address: 6950 NW 77th Court, Doral
  • Market: Doral

Drew Dewitt and David Archibald of Ivy Realty were the landlords in this transaction, while Melissa Rose acted as the broker. The deal was made possible through a loan obtained from a life insurance company, which provided $17,300,000 over a period of 7 years. The specific terms and conditions of the loan were not disclosed in the available information.

Players

Melissa Rose
54 deals$3.2B volume
BROKER

Ivy Realty
BROKERAGE


5 deals$157.2M volume
LANDLORD

Details

FINANCED
IMAGE: Drew Dewitt & Melissa Rose DATE: 04/16/2021 ADDRESS: 6950 NW 77th Court MARKET: Doral ASSET TYPE: Industrial Warehouse LOAN TYPE: Acquisition LENDER: Life Insurance Company LANDLORD: Ivy Realty - Drew Dewitt & David Archibald BROKER: Melissa Rose LOAN AMOUNT: $17,300,000 LOAN TERMS: 7 Years

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,300,000.00

Monthly NOI$115,333.33
Monthly Debt Service$109,347.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00