Gantry Secures $20 Million Refinance Loan For Amazon Distribution Center In Iowa City
2500 Heinz Road
$20,000,000
$57/SF
Building Size
346,062 SF
Asset Type
Industrial
Closing
Jun 17, 2025
AI
The asset involved in this transaction is a fully leased Amazon distribution center located at 2500 Heinz Road in Iowa City, IA, offering a total square footage of 346,062. The loan amount secured for this property is $20,000,000, categorized under a refinance loan type, which includes a 10-year fixed-rate and is structured as a non-recourse loan.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $20,000,000
- Loan Type: Refinance
- Loan Terms: 10-year, fixed-rate, non-recourse loan
- Address: 2500 Heinz Road
- Market: Iowa City, IA
- Asset Size: 346,062 SF
- Brokers: Tony Kaufmann & Joe Foley - Gantry
Gantry played a pivotal role in securing the refinancing loan, utilizing market conditions driven by the property’s lease renewal and ongoing demand for industrial assets to obtain favorable financing terms from a credit union.
Players
Iowa City 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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93