Marcus & Millichap Arranges $6.5M Refinance Loan For Society Lane Industrial Park In Fort Mill SC
1011 Society Lane & 1039 Society Lane
$6,500,000
Building Size
—
Asset Type
Industrial
Closing
May 14, 2025
AI
The asset involved in this transaction is Society Lane Industrial Park, an industrial property comprising 11 buildings that are fully leased. The property is located at 1011–1039 Society Lane in Fort Mill, SC, with a loan amount secured for refinancing purposes set at $6,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,500,000
- Loan Type: Refinance
- Landlord: Phoenix Industrial Redevelopment
- Broker: Duke Dennis - Marcus & Millichap
- Market: Fort Mill, SC
Marcus & Millichap Capital Corp. facilitated the refinance loan for Society Lane Industrial Park, indicating their role in coordinating the financial aspects of the transaction.
Players
Fort Mill 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93