Foundry Commercial & MetLife Investment Management Secures $71M Construction Loan For Industrial Asset In Charlotte
FINANCED
$71,000,000
North Carolina
See Similar DealsIndustrial902,325 SF
Financed 02/28/2025
FINANCED
Foundry Commercial & MetLife Investment Management Secures $71M Construction Loan For Industrial Asset In Charlotte
7401 Steele Creek Road
See Similar DealsIndustrial902,325 SF
Financed 02/28/2025
Summary
NORTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$78
Total Square Footage:902,325 SF
Transaction Type:Loan
The asset involved in this transaction is an industrial property located at 7401 Steele Creek Road in Charlotte, NC, encompassing a total square footage of 902,325. The landlord of the property is a partnership between Foundry Commercial and MetLife Investment Management.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $71,000,000
- Loan Type: Construction
- Loan Terms: 4+1 year floating rate construction loan
- Brokers: Melissa Rose & Jovi Rodriguez - JLL
The transaction involves key representatives in the real estate industry. The brokers, Melissa Rose and Jovi Rodriguez, are associated with JLL and played a significant role in this loan transaction.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$71,000,000.00
Monthly NOI$473,333.33
Monthly Debt Service$448,768.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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