Updated Feb 16, 2024
Metropolitan Life Insurance Co. Provides $67M Loan For Hialeah Industrial Property
Northwest 162nd Street, Hialeah, FL, USA
$67,000,000
$214/SF
Building Size
312,103 SF
Asset Type
Industrial
Closing
Nov 2, 2020
About this deal
AI
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.
Players
Miami Lakes 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93