Updated Oct 28, 2024
Ready Capital Secures $8M Loan For Industrial Property At 511 Byers Rd In Miamisburg, OH
511 Byers Rd, Miamisburg, OH, USA
$8,000,000
$40/SF
Building Size
196,000 SF
Asset Type
Industrial
Closing
Nov 24, 2021
About this deal
AI
An industrial property located at 511 Byers Rd in Miamisburg, OH has recently been involved in a closed transaction. The property spans approximately 196,000 square feet and is categorized as an industrial asset. The transaction took place on November 24, 2021, and the property was acquired through an acquisition and stabilization loan.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $8,000,000
- Loan Type: Acquisition & Stabilization
- Loan Terms: Nonrecourse loan with interest-only payments, a floating rate, and a four-year term
The landlord associated with this property is Ready Capital, represented by David A. Cohen. The loan amount for this transaction was $8,000,000, and it was obtained for the purpose of acquiring and stabilizing the property. The loan terms include nonrecourse features, interest-only payments, a floating rate, and a four-year term.
Players
Miamisburg Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Visit David Cohen to view all their deals.
Browse Ohio industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93