Updated Nov 27, 2024
Newmark Brokers Secure $150M Acquisition Loan For Industrial Portfolio In Midwest
Chicago, Illinois, United States
$150,000,000
$75,000,000/SF
Building Size
2 SF
Asset Type
Industrial
Closing
Mar 27, 2022
About this deal
AI
The Industrial Portfolio in the Midwest has been involved in a closed transaction. The property is an industrial asset with a total square footage of 2,200,000. The transaction took place on 03/08/2023.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $150,000,000
- Lender: Protective Life, Old National Bank & One America
- Landlord: Burton-Katzman; DRA Advisors - Brett Gottlieb
The lenders involved in this transaction were Protective Life, Old National Bank, and One America. The landlord representatives were Burton-Katzman and DRA Advisors, represented by Brett Gottlieb. The brokers who facilitated the deal were Jordan Roeschlaub, Dustin Stolly, and Chris Kramer, all from Newmark.
The loan obtained for this transaction was an Acquisition Loan.
Players
Chicago 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93