Updated Dec 4, 2024
CIT Provides $39.6M Loan For Industrial Property In Baltimore, MD
4601 Curtis Avenue, Baltimore, Maryland 21226, United States
$39,600,000
$82/SF
Building Size
483,000 SF
Asset Type
Industrial
Closing
Mar 3, 2022
About this deal
AI
An industrial property located at 4601 & 4501 Curtis Ave in Baltimore, MD has been involved in a loan transaction. The property spans approximately 483,000 square feet and is owned by Clarion Partners.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $39,600,000
- Lender: CIT - Chris Niederpruem - First Citizens Bank
- Landlord: Clarion Partners - Sean O’Connor
CIT, represented by Chris Niederpruem from First Citizens Bank, provided a loan of $39,600,000 for the industrial property at 4601 & 4501 Curtis Ave in Baltimore, MD. The landlord, Clarion Partners, was involved in the transaction, with Sean O’Connor representing them.
Players
Baltimore 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93