Updated Dec 4, 2024
Drew DeWitt & David Archibald Landlord With JLL Brokers Secures $32.2M Loan For Industrial Asset
19501 Northeast 10th Avenue
$32,200,000
$153/SF
Building Size
210,219 SF
Asset Type
Industrial
Closing
Oct 2, 2024
About this deal
AI
The property asset involved in this transaction is an industrial space located at 19501 Northeast 10th Avenue in the Miami market. The asset encompasses a total area of 210,219 square feet and is associated with an acquisition loan amounting to $32,200,000, structured with a 3-year term featuring full-term interest-only payments, along with $2.7 million allocated for future funding.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $32,200,000
- Loan Type: Acquisition
- Loan Terms: 3-year term, full term interest only, $2.7M in future funding
- Landlord: Drew DeWitt & David Archibald - East Capital Partners
- Broker Representatives: Melissa Rose & Jovi Rodriguez - JLL
The key individuals involved in this deal include Drew DeWitt and David Archibald representing East Capital Partners as the landlords. The transaction was brokered by Melissa Rose and Jovi Rodriguez from JLL, who facilitated the acquisition loan process.
On the Map
$32,200,000
$153/SF
Industrial
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Players
Miami 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93