Metropolitan Life Insurance Co. Provides $67M Loan For Hialeah Industrial Property
FINANCED
$67,000,000
Florida
See Similar DealsIndustrial312,103 SF
Financed 11/03/2020
FINANCED
Metropolitan Life Insurance Co. Provides $67M Loan For Hialeah Industrial Property
Northwest 162nd Street, Hialeah, FL, USA
See Similar DealsIndustrial312,103 SF
Financed 11/03/2020
Summary
FLORIDA
Asset Type:Industrial
Price Per Square Foot:$214
Total Square Footage:312,103 SF
Transaction Type:Loan
NW 162nd Street & NW 102nd Avenue in Hialeah was the location of a recent closed property transaction in the industrial asset category. The deal was facilitated by broker Steve Roth of CBRE. The loan amount for this transaction was $67,000,000, and the total square footage of the property was 312,103.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $67,000,000
- Address: NW 162nd Street & NW 102nd Avenue, Hialeah
- Market: Hialeah
The lender for this industrial property transaction was Metropolitan Life Insurance Co. The landlord involved in the deal were Bridge Development represented by Steve Poulos, and PGIM Real Estate represented by Eric Adler.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$67,000,000.00
Monthly NOI$446,666.67
Monthly Debt Service$423,485.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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