Updated Dec 4, 2024
Stonemont Park 75 South Secures $42.5M Construction Loan In Locust Grove
75 Pine Grove Road
$42,500,000
$47/SF
Building Size
903,701 SF
Asset Type
Development Site
Closing
Jun 11, 2024
About this deal
AI
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.
On the Map
$42,500,000
$47/SF
Development Site
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Locust Grove Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93