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
Pompano Beach 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93