Knighthead Funding Provides $29M Acquisition Loan For Franklin, TN Office Building
455 Duke Drive, Franklin, Tennessee 37067, United States
$29,000,000
$161/SF
Building Size
180,000 SF
Asset Type
Office
Closing
Jul 6, 2022
About this deal
AI
An office property located at 455 Duke Dr in Franklin, TN with a size of 180,000 square feet has been recently involved in a loan transaction. The loan, which took place on July 7, 2022, was an acquisition-type loan provided by Knighthead Funding, LLC. The loan amount for this transaction was $29,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $29,000,000
- Address: 455 Duke Dr, Franklin, TN
- Market: Franklin, TN
- Lender: Knighthead Funding, LLC
- Landlord: Elmington Capital
Elmington Capital, the landlord of the property, was involved in this loan transaction as well. This deal highlights the collaboration between the property owner and their lender, emphasizing the importance of financing in real estate acquisitions.
Players
Franklin Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93