Updated Oct 29, 2024
Cory Kroeger's Kroeger & Co. Commercial & Industrial Real Estate Acquires Winter Park Portfolio For $7M
1936 W Fairbanks Ave Winter Park, Fl 32789, Usa
$7,000,000
Building Size
—
Asset Type
Industrial
Closing
Jul 20, 2023
About this deal
AI
A portfolio of 11 properties on Winter Park's Fairbanks Avenue has been sold for $7 million. The properties included in the sale are located at 1936-1996 West Fairbanks Avenue, 1965 and 1995 Kentucky Avenue, and 1934-1970 Kentucky Avenue. The asset type of these properties is industrial, and they are situated in the Winter Park market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $7,000,000
- Buyer: Cory Kroeger - Kroeger & Co. Commercial & Industrial Real Estate
- Seller: D&G Gallagher LLP
- Broker: Lee Zerivitz - CITY Commercial
The buyer of this portfolio of properties is Winter Park-based Fairbanks Winter Park LLC, led by Cory Kroeger. On the other hand, D&G Gallagher LLP acted as the seller, having assembled these properties in separate transactions spanning from 1969 to 2005. The sale of these properties presents potential redevelopment plans.
On the Map
$7,000,000
Industrial
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Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93