Stream Realty Partners Secures $63 Million Loan For Chicagoland Industrial Portfolio With JLL
850 Asbury Drive
$63,000,000
$89/SF
Building Size
703,996 SF
Asset Type
Industrial
Closing
Oct 25, 2024
AI
The Chicagoland Industrial Portfolio consists of five Class A industrial buildings with a total square footage of 703,996, located at 850 Asbury Drive, 2545 West 24th Street, 8965 187th Street, 8905 187th Street, and 815 West Pershing Avenue. The properties are situated in the markets of Buffalo Grove, Chicago, and Mokena.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $63,000,000
- Loan Amount: $63,000,000
- Loan Terms: fixed-rate, five-year
- Landlord: Stream Realty Partners
- Brokers: Brian Walsh, Colby Mueck & Tara Hagerty - JLL
JLL Capital Markets played a crucial role in securing the financing for this portfolio, under the leadership of Colby Mueck. The properties benefit from being strategically positioned near essential transportation networks, catering to a range of tenants across various industries.
Players
Buffalo Grove 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93