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Faropoint Secures $223M Blackstone Mortgage Bridge Loan For 24-Property Industrial Portfolio
FINANCED
$223,000,000
Industrial1,800,000 SF
Financed 01/23/2026
FINANCED
Faropoint Secures $223M Blackstone Mortgage Bridge Loan For 24-Property Industrial Portfolio
Industrial Portfolio
See Similar DealsIndustrial1,800,000 SF
Financed 01/23/2026
Summary
OHIO
Asset Type:Industrial
Price Per Square Foot:$123
Total Square Footage:1,800,000 SF
Transaction Type:Loan
The asset involved is an industrial portfolio comprising 1,800,000 square feet across 24 properties located in Georgia, Florida, New Jersey, Texas, and Pennsylvania. The total acquisition cost of the portfolio is $318.8 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $223,000,000
- Lender: Blackstone Mortgage
- Landlord: Adir Levitas - Faropoint
- Asset Occupancy: 91%
- Major Tenants: PepsiCo
- Lease Rollover Period: Significant through 2028
Faropoint is working on stabilizing the operations of the portfolio by pushing rents to market levels and enhancing tenant retention strategies. Adir Levitas represents Faropoint in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$223,000,000.00
Monthly NOI$1,486,666.67
Monthly Debt Service$1,409,511.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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