Updated Oct 28, 2024
Bank Of America Provides $64.2M Construction Loan For Industrial Property In Airport West
7777 Northwest 41st Street, Miami, FL 33166
$64,200,000
$128/SF
Building Size
500,000 SF
Asset Type
Industrial
Closing
Nov 30, 2021
About this deal
AI
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
Doral 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93