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
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