Meridian Capital Group Facilitates $52.9M Loan For Industrial Property In Sparks, NV
75 Pittsburgh Ave Sparks, Nv 89437, Usa
$52,900,000
$108/SF
Building Size
489,440 SF
Asset Type
Industrial
Closing
Aug 17, 2023
AI
The industrial property located at 75 Pittsburgh Avenue in Sparks, NV has been involved in a recent loan transaction. The property spans a total square footage of 489,440 and is owned by Dalfen Industrial. The loan amount for this acquisition is $52,900,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $52,900,000
- Address: 75 Pittsburgh Avenue, Sparks, NV
- Market: Sparks, NV
- Owner: Dalfen Industrial
Represented by Jeff Weinberg, Morris Betesh, and Morris Dabbah from Meridian Capital Group, the loan was secured for the acquisition of the property. The involvement of these brokers highlights their expertise in facilitating such transactions.
Players
Avenue 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93