Rocky Kelemer Of Meridian Capital Group Secures $3.3M Construction Loan For Industrial Asset In Atlanta
$3,300,000
$90/SF
Building Size
36,500 SF
Asset Type
Industrial
Closing
Aug 23, 2024
AI
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.
Madison 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93