Updated Mar 11, 2025
Tremont Realty Capital Secures $27 Million Refinance Loan For 400 Devon Park Drive In Wayne PA
400 Devon Park Drive
$27,000,000
$195/SF
Building Size
138,065 SF
Asset Type
Industrial
Closing
Jul 25, 2024
About this deal
AI
400 Devon Park Drive is an industrial property located in Wayne, PA, comprising 138,065 square feet. The property was involved in a refinance transaction with a loan amount of $27 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $27,000,000
- Address: 400 Devon Park Drive
- Market: Wayne, PA
- Asset Size: 138,065 SF
- Lender: Tom Lorenzini - Tremont Realty Capital
- Broker: JLL
- Loan Type: Refinance
- Loan Terms: three-year initial term with two one-year extension options
The refinance loan for the property was arranged by JLL and funded by The RMR Group, highlighting the involvement of key industry players in this transaction.
On the Map
$27,000,000
$195/SF
Industrial
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Players
Wayne 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93