Updated Oct 28, 2024
Wells Fargo Provides $112M Loan To GLP Capital Partners For Industrial Property In Glendale
67-25 Otto Road, Glendale, NY, USA
$112,000,000
$842/SF
Building Size
133,000 SF
Asset Type
Industrial
Closing
Jun 27, 2021
About this deal
AI
Located in Glendale, the industrial property at 67-25 Otto Road & 66-31 Otto Road has been involved in a recent loan transaction. The property spans approximately 133,000 square feet, making it a notable asset within the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $112,000,000
- Lender: Wells Fargo
- Landlord: GLP Capital Partners
Wells Fargo served as the lender for this loan transaction, providing a substantial amount of $112,000,000. On the other hand, GLP Capital Partners acted as the landlord in this deal. The involvement of these key individuals and companies showcases their significant roles in this transaction.
Players
New York 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93