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Gateway Rentals

South State Bank Provides $3,000,000 Loan For Industrial Asset At Gateway Rentals In Pompano Beach
FINANCEDIndustrial

South State Bank Provides $3,000,000 Loan For Industrial Asset At Gateway Rentals In Pompano Beach

Gateway Rentals

$3,000,000

Building Size

Asset Type

Industrial

Closing

Apr 26, 2023

AI

The property involved in this transaction is an industrial asset located at Gateway Rentals, Pompano Beach. The lender facilitating the transaction is South State Bank, providing a permanent loan amounting to $3,000,000.00.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $3,000,000.00
  • Lender: South State Bank
  • Loan Type: Permanent
  • Loan Date: 04/26/2023
  • Market: Pompano Beach

This transaction involves key financial entities and reflects a structured deal in the industrial sector. The involvement of South State Bank as the lender highlights their role in financing this significant transaction within the market.

Players

South State Bank
South State BankLender

Pompano Beach Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.29%

Cash-on-Cash

-1.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93