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PIMCO Provides $94M Construction Loan For College Point Logistics Center In NYC

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FINANCED
$94,000,000
Mo Beler
Keith Kurland
Ari Hirt
+ 3

New York

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Industrial314,000 SF
Financed 03/17/2023
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Property Image
FINANCED

PIMCO Provides $94M Construction Loan For College Point Logistics Center In NYC

28-02 Whitestone Expressway

See Similar Deals
Industrial314,000 SF
Financed 03/17/2023
Mo Beler
Keith Kurland
Ari Hirt
+ 3
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$299
Total Square Footage:314,000 SF
Transaction Type:Loan

The College Point Logistics Center, located at 28-02 Whitestone Expressway in New York City, has recently undergone a closed transaction for a construction loan. The industrial property spans a total of 314,000 square feet, offering ample space for various industrial activities.

Summary of transaction details:

PIMCO, a prominent lending institution, provided the construction loan for this transaction. Wildflower Ltd. acts as the landlord for the College Point Logistics Center, facilitating the deal. The brokers involved in this transaction include Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz (AdamSchwartz88), Ari Hirt, and Mo Beler from Walker & Dunlop.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
190 deals$31.9B volume
BROKER
Ari Hirt
Walker & Dunlop
Ari Hirt
28 deals$3.1B volume(301) 215-5500
BROKER
Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
165 deals$26.9B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
170 deals$29.1B volume
BROKER
Adam Schwartz
Walker & Dunlop
Adam Schwartz
160 deals$25.4B volume(646) 491-8869
BROKER
Mo Beler
Walker & Dunlop
Mo Beler
35 deals$6.4B volume
BROKER
Wildflower
Wildflower
BROKERAGE
PIMCO
PIMCO
LENDER
Wildflower
Wildflower
LANDLORD

Details

FINANCED
IMAGE: Jonathan Schwartz, Aaron Appel, Adam Gordon, Keith Kurland, Matthew Dicker, Adam Schwartz, Ari Hirt & Mo Beler DATE: 03/17/2023 ADDRESS: 28-02 Whitestone Expressway (College Point Logistics Center) MARKET: New York City ASSET TYPE: Industrial ~ SF: 314,000 LENDER: PIMCO LANDLORD: Wildflower Ltd. BROKERS: Aaron Appel, Keith Kurland (@KaKurland), Jonathan Schwartz (@JSchwa1386), Adam Schwartz (AdamSchwartz88), Ari Hirt (@Hirtari) & Mo Beler (@MBeler) - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $94,000,000 LOAN TYPE: Construction &Dunlop

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$94,000,000.00

Monthly NOI$626,666.67
Monthly Debt Service$594,143.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00