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
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.
Players
Miami Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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