Ocean Bank Provides $50 Million Refinance To Galaxy Industrial For Miami Industrial Asset

The property involved in this transaction is an industrial asset located at 7902-8180 Northwest 66th Street, 8430-8600 Northwest 72nd Street, 8610-8693 Northwest 70th Street, 7061-7185 Northwest 87th Avenue, 6900-6931 Northwest 84th Avenue, 8402-8620 Northwest 70th Street & 8501-8611 Northwest 72nd Street in the Miami market. The asset encompasses a total square footage of 689,940, and the loan amount for this refinance transaction is $50,000,000, with terms including 5 years plus two 5-year extension options and 12 months of interest-only payments.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $50,000,000
• Lender: Ocean Bank
• Landlord: Galaxy Industrial
• Brokers: Charles Foschini, Christopher Apone, Shannon Wilson & Luke Maganas - Berkadia
• Loan Type: Refinance
• Loan Terms: 5 years + two 5-year extensions options, 12 months interest only

The transaction was facilitated by brokers Charles Foschini, Christopher Apone, Shannon Wilson, and Luke Maganas, all representing Berkadia. Their involvement and expertise contributed to the successful completion of this refinancing deal for Galaxy Industrial with Ocean Bank.