CBRE Brokers Secure $55.5M Loan For Acquisition Of 1,003,000 SF Industrial Property In Gaffney, SC
FINANCED
$55,500,000
South Carolina
See Similar DealsIndustrial1 SF
Financed 12/12/2022
FINANCED
CBRE Brokers Secure $55.5M Loan For Acquisition Of 1,003,000 SF Industrial Property In Gaffney, SC
34 Commerce Drive, Gaffney, South Carolina 29340, United States
See Similar DealsIndustrial1 SF
Financed 12/12/2022
Summary
SOUTH CAROLINA
Asset Type:Industrial
Price Per Square Foot:$55,500,000
Total Square Footage:1 SF
Transaction Type:Loan
The industrial property located at 34 Commerce Drive in Gaffney, SC has been involved in a recent transaction. The property spans a total of 1,003,000 square feet, making it a significant asset in the market. The transaction, which took place on 12/12/2022, involved an acquisition loan of $55,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $55,500,000
- Market: Gaffney, SC
- Property Size: 1,003,000 square feet
- Landlord: LRC Properties
- Brokers: Brian Linnihan, Mike Ryan, Richard Henry & Taylor Crowder - CBRE
The deal was facilitated by the brokers Brian Linnihan, Mike Ryan, Richard Henry, and Taylor Crowder, who represented the buyer or seller in this acquisition. The involvement of CBRE demonstrates their expertise in handling industrial property transactions in Gaffney, SC.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,500,000.00
Monthly NOI$370,000.00
Monthly Debt Service$350,797.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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