Bank Of America Provides $64.2M Construction Loan For Industrial Property In Airport West
FINANCED
$64,200,000
Florida
See Similar DealsIndustrial500,000 SF
Financed 11/30/2021
FINANCED
Bank Of America Provides $64.2M Construction Loan For Industrial Property In Airport West
7777 Northwest 41st Street, Miami, FL 33166
See Similar DealsIndustrial500,000 SF
Financed 11/30/2021
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$128
Total Square Footage:500,000 SF
Transaction Type:Loan
The industrial property located at 7777 Northwest 41st Street in Airport West has been involved in a loan transaction. The property spans 500,000 square feet and is owned by GLP Capital Partners.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $64,200,000
- Lender: Bank of America
- Landlord: GLP Capital Partners
- Brokers: Melissa Rose & Bill Fishel - JLL
The loan, with a total amount of $64,200,000, was provided by Bank of America. This transaction represents a construction loan for the property.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$64,200,000.00
Monthly NOI$428,000.00
Monthly Debt Service$405,787.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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