Tim Bishop Of Iconic Equities Secures $16.2M Construction Loan From CIBC For Industrial Asset In Pineville
FINANCED
$16,200,000
North Carolina
See Similar DealsIndustrial190,000 SF
Financed 09/03/2025
FINANCED
Tim Bishop Of Iconic Equities Secures $16.2M Construction Loan From CIBC For Industrial Asset In Pineville
10203 Pineville Distribution Street
See Similar DealsIndustrial190,000 SF
Financed 09/03/2025
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$85
Total Square Footage:190,000 SF
Transaction Type:Loan
The property asset involved is an industrial facility located at 10203 Pineville Distribution Street in Pineville, NC. The asset encompasses a total square footage of 190,000 and is associated with a construction loan amounting to $16,200,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $16,200,000
- Loan Type: Construction
- Loan Terms: 3 years
- Lender: CIBC
- Landlord: Tim Bishop - Iconic Equities
Key individuals in this transaction include Tim Bishop, representing Iconic Equities as the landlord and involved in orchestrating the deal. CIBC serves as the lending institution providing the financial backing for this construction loan.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,200,000.00
Monthly NOI$108,000.00
Monthly Debt Service$102,395.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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