Steven McCraney Secures $48.2 Million Refinance Loan For Industrial Asset In West Palm Beach
N Haverhill Rd
$48,200,000
$85/SF
Building Size
566,736 SF
Asset Type
Industrial
Closing
Nov 22, 2024
AI
The asset involved in this transaction is an industrial property located at 374 N Haverhill Road in West Palm Beach. The property spans 566,736 square feet and was subject to a refinance loan amounting to $48,200,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $48,200,000
- Address: 374 N Haverhill Road
- Market: West Palm Beach
- Landlord: Steven McCraney
- Landlord's Representative: Melissa Rose, Michael DiCosimo & Mateo Bolivar - JLL
- Loan Type: Refinance
The transaction involved key individuals including the landlord, Steven McCraney, who is represented by brokers Melissa Rose, Michael DiCosimo, and Mateo Bolivar from JLL. This team played a crucial role in facilitating the refinance for the industrial asset located in West Palm Beach.
Players
West Palm 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93