Updated Mar 25, 2025
MetLife Investment Management Acquires Industrial Asset From Stonemont Financial Group For $50M
5205 Drane Field Road
$50,000,000
$143/SF
Building Size
348,740 SF
Asset Type
Industrial
Closing
Mar 18, 2025
About this deal
AI
The property at 5205 Drane Field Road is an industrial asset located in Lakeland, which was sold for $50,000,000.00. The total square footage of the property is 348,740.0.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $50,000,000.00
- Address: 5205 Drane Field Road
- Market: Lakeland
- Square Footage: 348,740.0
- Seller: Stonemont Financial Group
- Buyer: MetLife Investment Management
- Seller's Representatives: John Huguenard (JLL), Luis Castillo (JLL), Cody Brais (JLL), Taylor Osborne (JLL), David Orta Jr. (JLL)
The transaction involved key players including Stonemont Financial Group as the seller and MetLife Investment Management as the buyer. Multiple representatives from JLL, including John Huguenard, Luis Castillo, Cody Brais, Taylor Osborne, and David Orta Jr., facilitated the sale on behalf of the seller.
On the Map
$50,000,000
$143/SF
Industrial
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Players
Lakeland 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
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93