SomeraRoad Secures $525M Loan For National Net-Leased Portfolio In Detroit, Chicago, Boston & St. Louis
FINANCED
$525,000,000
+ 2
Illinois
See Similar Deals6,800,000 SF
Financed 02/08/2020
FINANCED
SomeraRoad Secures $525M Loan For National Net-Leased Portfolio In Detroit, Chicago, Boston & St. Louis
Chicago, Illinois, United States
See Similar Deals6,800,000 SF
Financed 02/08/2020
+ 2
Summary
ILLINOIS
Price Per Square Foot:$77
Total Square Footage:6,800,000 SF
Transaction Type:Loan
A national net-leased portfolio transaction has taken place in Detroit, Chicago, Boston, and St. Louis. The industrial property involved in the deal spans approximately 6,800,000 square feet. The address of the property has not been specified in the provided context.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $525,000,000
- Lender: Bank of Montreal
- Landlord: SomeraRoad
The financing for this transaction was provided by the Bank of Montreal. Acting as brokers in the deal were Jordan Roeschlaub, Dustin Stolly, Chris Kramer, Nick Scribani, and Jake Neeb, representing Newmark.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$525,000,000.00
Monthly NOI$3,500,000.00
Monthly Debt Service$3,318,357.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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