Rocky Kelemer Of Meridian Capital Group Secures $3.3M Construction Loan For Industrial Asset In Atlanta
FINANCED
$3,300,000
Georgia
See Similar DealsIndustrial36,500 SF
Financed 08/23/2024
FINANCED
Rocky Kelemer Of Meridian Capital Group Secures $3.3M Construction Loan For Industrial Asset In Atlanta
Industrial36,500 SF
Financed 08/23/2024
Summary
GEORGIA
Asset Type:Industrial
Price Per Square Foot:$90
Total Square Footage:36,500 SF
Transaction Type:Loan
The property asset involved in this transaction is located on Amtico Road in Atlanta, GA. It is classified as an industrial asset with a total square footage of 36,500. The loan amount secured for this property is $3,300,000, which is structured as a construction loan at a fixed interest rate of 7.25% for a 36-month term.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,300,000
- Loan Type: Construction
- Loan Terms: 7.25% fixed, 36-month term
- Broker: Rocky Kelemer
- Agency: Meridian Capital Group
Rocky Kelemer from Meridian Capital Group represented the broker in this transaction, facilitating the loan arrangement for the industrial property development.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,300,000.00
Monthly NOI$22,000.00
Monthly Debt Service$20,858.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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