Burton-Katzman Acquires Industrial Property In Chesterfield Township, MI For $17.5M
52029 Sierra Drive, Chesterfield, Michigan 48047, United States
$17,500,000
$97/SF
Building Size
179,000 SF
Asset Type
Industrial
Closing
Jun 15, 2022
AI
An industrial property located at 52029 & 30921 Sierra Drive in Chesterfield Township, MI has been involved in a closed transaction. The property spans across 179,000 square feet.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,500,000
- Loan Type: Construction
- Loan Terms: Loan Amount - $17,500,000, Loan-to-Cost (LTC) - 90%
The transaction was facilitated by Burton-Katzman and Dominion Real Estate Advisors, serving as the landlord for the property. The deal was brokered by Yaakov Zar, Justin Piasecki, Richard Sutton, and Max Lipner from Lev Capital.
Players
Chesterfield 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
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93