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KBS Secures $38.4M Loan For Crossroads Distribution Center In Charlotte
FINANCED
$38,400,000
North Carolina
See Similar DealsIndustrial496,723 SF
Financed
FINANCED
KBS Secures $38.4M Loan For Crossroads Distribution Center In Charlotte
11435 Granite Street
See Similar DealsIndustrial496,723 SF
Financed
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$77
Total Square Footage:496723 SF
Transaction Type:Loan
The Crossroads Distribution Center, located at 11435 Granite Street in Charlotte, N.C., is an industrial campus spanning 496,723 square feet. KBS secured a $38.4 million loan to refinance this property, replacing a previous financing of $28.8 million arranged by Citizens in 2020.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $38,400,000
- Market: Charlotte, NC
- Asset Type: Industrial
- Broker: Joe Donato - Newmark
The loan secured by KBS for the Crossroads Distribution Center in Charlotte's Airport submarket signifies a substantial financial restructuring, further solidifying the property's position within the market.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,400,000.00
Monthly NOI$256,000.00
Monthly Debt Service$242,714.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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