Updated Nov 27, 2024
PGIM Real Estate Provides $103M Loan To Refinance DRA Advisors' Camden County Industrial Portfolio
$103,000,000
$85/SF
Building Size
1,200,000 SF
Asset Type
Industrial
Closing
Jul 17, 2023
About this deal
AI
The industrial portfolio in Camden County has been financed by PGIM Real Estate, providing a loan amount of $103 million to DRA Advisors. The portfolio comprises 35 buildings, with a total square footage of 1,200,000. Located in a strategic market, these high-quality assets align perfectly with PGIM Real Estate's core lending strategy in the industrial sector.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $103,000,000
- Address: Industrial Portfolio
- Market: Camden County
- Loan Type: Refinance
- Loan Terms: Fixed-rate
PGIM Real Estate, represented by Tom Goodsite, acted as the lender in this financing deal. Their expertise and commitment to the industrial sector make them a suitable choice for DRA Advisors. The loan allows DRA Advisors to optimize their industrial portfolio in Camden County and further strengthen their market position.
Players
Indianapolis 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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93