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10045 International Boulevard

Byline Bank Provides $10.4M Acquisition Loan For Cincinnati Industrial Property
FINANCEDIndustrial

Byline Bank Provides $10.4M Acquisition Loan For Cincinnati Industrial Property

10045 International Boulevard

$10,400,000

$39/SF

Building Size

263,000 SF

Asset Type

Industrial

Closing

Jan 26, 2024

AI

A $10.4 million financing deal was closed by Byline Bank’s Commercial Real Estate Group for a 263,000-square-foot industrial building located at 10045 International Boulevard in Cincinnati, Ohio. The property, owned by an affiliate of Brennan Investment Group, showcases the strong relationship between Byline Bank and Brennan Investment Group, as it marks the ninth transaction financed by Byline for Brennan.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $10,400,000
  • Square Footage: 263,000
  • Address: 10045 International Boulevard, Cincinnati
  • Market: Cincinnati

Byline Bank’s financing deal demonstrates their ability to provide timely financing in volatile markets and strengthen relationships with top sponsors like Brennan Investment Group. This successful transaction was facilitated by John Barkidjija, the lender from Byline Bank, and Michael Brennan, the landlord from Brennan Investment Group. The broker involved in the deal was Duane Morris LLP.

Players

Byline Bank
Byline BankLender

Michael Brennan

Brennan Investment Group

Landlord

$744.1M

vol

14 deals

Landlord

West Chester 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

1.53%

Cash-on-Cash

-0.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93