Asset Realty Construction Group Secures $9.4M Construction Loan For Industrial Property In Ormond Beach, FL
FINANCED
$9,400,000
Ontario
See Similar DealsIndustrial102,000 SF
Financed 03/29/2023
FINANCED
Asset Realty Construction Group Secures $9.4M Construction Loan For Industrial Property In Ormond Beach, FL
2730 Airport Road
See Similar DealsIndustrial102,000 SF
Financed 03/29/2023
Summary
Asset Type:Industrial
Price Per Square Foot:$92
Total Square Footage:102,000 SF
Transaction Type:Loan
The property involved in this closed transaction is an industrial asset located at 2730 Airport Road in Ormond Beach, FL. The property spans a total of 102,000 square feet and is owned by Asset Realty Construction Group, represented by Dino Tomassetti. The deal was facilitated by brokers Kathy Anderson and Caillin Boles from Progress Capital.
Summary of Transaction Details:
- Property Type: Industrial
- Transaction Amount: $9,400,000
- Loan Type: Construction
- Loan Terms: 5.80% Fixed Rate Construction Loan
The loan amount for this transaction was $9,400,000 and it was a construction loan. The loan terms include a fixed rate of 5.80%. This financing will support the development and construction of the industrial property at 2730 Airport Road.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,400,000.00
Monthly NOI$62,666.67
Monthly Debt Service$59,414.39
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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