Updated Dec 4, 2024
Barings Provides $135M Construction Loan For 750K SF Industrial Property In Philadelphia
5000 Richmond St Philadelphia, PA 19137, USA
$135,000,000
$180/SF
Building Size
750,000 SF
Asset Type
Industrial
Closing
Jun 23, 2023
About this deal
AI
An industrial property located at 5000 Richmond in Philadelphia has recently undergone a closed loan transaction. The property spans 750,000 square feet and is owned by DH Property Holdings, represented by Dov Hertz and Aaron Malitzky. The transaction was facilitated by Barings as the lender.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $135,000,000
- Address: 5000 Richmond, Philadelphia
- Market: Philadelphia
In this transaction, Walker & Dunlop represented the landlord, DH Property Holdings. The broker team included Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Mo Beler, Michael Diaz, and Michael Ianno. The loan, amounting to $135,000,000, was of the construction type.
On the Map
$135,000,000
$180/SF
Industrial
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Players
Philadelphia 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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93