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
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