Updated Dec 4, 2024
Dave Glendon Of Sprague Energy Secures $150M Refinance Loan From Stefaan Decraene Of Rabobank For Industrial Properties
220 Locust Avenue, 1040 East 149th Street, 939 East 138th Street & 184 Locust Avenue
$150,000,000
Building Size
—
Asset Type
Industrial
Closing
Sep 4, 2024
About this deal
AI
The transaction involves the refinancing of 11 industrial properties located at 220 Locust Avenue, 1040 East 149th Street, 939 East 138th Street, and 184 Locust Avenue, situated in the Mott Haven market of the Bronx. The total loan amount secured for this transaction is $150 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $150,000,000
- Lender: Stefaan Decraene - Rabobank
- Landlord: Dave Glendon - Sprague Energy
Stefaan Decraene represents Rabobank in this refinancing deal, while Dave Glendon represents Sprague Energy. This transaction demonstrates the financial engagement between these entities in the context of industrial property management.
Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93