Updated Dec 4, 2024
Gantry Arranges $14.7M Acquisition Loan For Eastport Tech Center Industrial Property In Collinsville
1601 Eastport Plaza Drive
$14,700,000
$72/SF
Building Size
202,508 SF
Asset Type
Industrial
Closing
Dec 2, 2024
About this deal
AI
The Eastport Tech Center is a 202,508-square-foot industrial property located at 1601-1609 Eastport Plaza Drive in Collinsville, IL. The property consists of four buildings and is fully leased. A $14.7 million permanent loan was arranged for its acquisition.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,700,000
- Loan Type: Acquisition
- Loan Terms: five-year, fixed-rate loan with a 30-year amortization
- Market: Collinsville
- Brokers: Bonnie Monteleone & Joe Monteleone - Gantry
The financing for the acquisition was provided by a life insurance company, and the terms include a five-year loan which allows for stable, long-term financial planning for the property owner.
On the Map
$14,700,000
$72/SF
Industrial
View full map
Players
Collinsville Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Visit Joe Monteleone to view all their deals.
Browse Collinsville industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93