Updated Dec 4, 2024
KBS Secures $38.4M Loan For Crossroads Distribution Center In Charlotte
11435 Granite Street
$38,400,000
$77/SF
Building Size
496,723 SF
Asset Type
Industrial
Closing
May 23, 2024
About this deal
AI
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.
On the Map
$38,400,000
$77/SF
Industrial
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Players
Charlotte 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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93