Updated Jan 21, 2025
Randall Waddell Of NorthMarq Secures $45 Million Loan For The Blending House Development
1917 Vigo Road
$45,000,000
Building Size
—
Asset Type
Industrial
Closing
Jan 20, 2025
About this deal
AI
The property asset involved in the transaction is located at 1917 Vigo Road, Shelbyville, KY, comprising 108 acres designated for industrial use. A loan amount of $45,000,000 has been secured to facilitate the refinancing of Phase 1 debt and fund Phase 2 construction of The Blending House development.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $45,000,000
- Address: 1917 Vigo Road
- Market: Shelbyville, KY
- Landlord: The Blending House Development
- Broker: Randall Waddell - NorthMarq
- Date: 01/20/2025
- Acres: 108
The key individual involved in this transaction is Randall Waddell representing NorthMarq, who played a crucial role in securing the financing for The Blending House development, thereby advancing its construction plans in Shelby County, Kentucky.
Players
Shelbyville 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93