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Stonemont Park 75 South Secures $42.5M Construction Loan In Locust Grove

Property Image
FINANCED
$42,500,000
Gregg Shapiro
Kelsey Bawcombe
Hunter Rich

Georgia

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Development Site903,701 SF
Financed 06/11/2024
the dealplayerscompscontact
Property Image
FINANCED

Stonemont Park 75 South Secures $42.5M Construction Loan In Locust Grove

75 Pine Grove Road

See Similar Deals
Development Site903,701 SF
Financed 06/11/2024
Gregg Shapiro
Kelsey Bawcombe
Hunter Rich
the dealplayerscompscontact
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Summary

GEORGIA
Asset Type:Development Site
Price Per Square Foot:$47
Total Square Footage:903,701 SF
Transaction Type:Loan

Stonemont Financial Group secured a $42.5 million construction loan for Stonemont Park 75 South, a 903,701-square-foot industrial development located at 75 Pine Grove Road in Locust Grove, GA. The loan was provided by Principal Asset Management with transaction brokerage by JLL.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $42,500,000
  • Market: Locust Grove, GA
  • Square Footage: 903,701
  • Acres: 113
  • Lender: Principal Asset Management
  • Landlord: Stonemont Financial Group
  • Brokers: Gregg Shapiro, Hunter Rich & Kelsey Bawcombe - JLL
  • Loan Type: Construction

The brokerage for the transaction was handled by Gregg Shapiro, Hunter Rich, and Kelsey Bawcombe of JLL, representing the parties involved in securing the construction loan for the industrial development at Stonemont Park 75 South.

Players

Gregg Shapiro
JLL
Gregg Shapiro
8 deals$424.1M volume(404) 924-2208
BROKER
Kelsey Bawcombe
JLL
Kelsey Bawcombe
5 deals$506M volume(404) 995-2100
BROKER
Hunter Rich
JLL
Hunter Rich
2 deals$100M volume
BROKER
Principal Asset Management
Principal Asset Management
LENDER

Details

FINANCED
IMAGE: 06/11/2024 ADDRESS: 75 Pine Grove Road MARKET: Locust Grove, GA ASSET TYPE: Development Site ~ SF: 903,701 ~ ACRES: 113 LENDER: Principal Asset Management LANDLORD: Stonemont Financial Group BROKERS: Gregg Shapiro, Hunter Rich & Kelsey Bawcombe - JLL LOAN AMOUNT: $42,500,000 LOAN TYPE: Construction NOTE: Stonemont Financial Group secured a $42.5 million construction loan for Stonemont Park 75 South, a 903,701-square-foot industrial development in Locust Grove, Ga., with financing from Principal Asset Management and transaction brokerage by JLL.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$42,500,000.00

Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00