Steven McCraney Refinances Industrial Property On Prosperity Drive In Savannah, GA For $80M
139 Prosperity Drive & 140 Prosperity Drive
$80,000,000
$31/SF
Building Size
2,545,276 SF
Asset Type
Industrial
Closing
Nov 15, 2023
AI
The industrial property located at 137-140 Prosperity Drive in Savannah, GA has recently undergone a loan transaction. The property spans 1,272,638 square feet, making it a significant asset in the market.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $80,000,000
- Loan Type: Refinance
The loan amount for this transaction is $80,000,000. The refinance loan will provide financial support for the property at 137-140 Prosperity Drive. The individuals involved in this deal include Steven McCraney as the landlord and Melissa Rose, Michael DiCosimo, and Mateo Bolivar from JLL representing the landlord.
Players
Savannah Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93