Barings Provides $135M Construction Loan For 750K SF Industrial Property In Philadelphia
FINANCED
$135,000,000
+ 5
Pennsylvania
See Similar DealsIndustrial750,000 SF
Financed 06/23/2023
FINANCED
Barings Provides $135M Construction Loan For 750K SF Industrial Property In Philadelphia
5000 Richmond St Philadelphia, PA 19137, USA
See Similar DealsIndustrial750,000 SF
Financed 06/23/2023
+ 5
Summary
PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$180
Total Square Footage:750,000 SF
Transaction Type:Loan
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.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$135,000,000.00
Monthly NOI$900,000.00
Monthly Debt Service$853,291.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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