SomeraRoad Secures $525M Loan For National Net-Leased Portfolio In Detroit, Chicago, Boston & St. Louis
Chicago, Illinois, United States
$525,000,000
$77/SF
Building Size
6,800,000 SF
Asset Type
—
Closing
Feb 8, 2020
About this deal
AI
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
Market CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93