FINANCED
Bank Of America Refinances Special Purpose Property In Amarillo For $462.5M
2927 Blackburn Street
$462,500,000
$67/SF
Building Size
6,900,000 SF
Asset Type
—
Closing
Sep 20, 2022
AI
The special purpose property located at 2927 Blackburn St. in Amarillo has been involved in a closed transaction. The property spans a total of 6,900,000 square feet.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $462,500,000
- Lender: Bank of America - Brian Moynihan
- Landlord: Davidson Kempner Capital Management - Tony Yoseloff & SpareBox Storage - Steve Treadwell & Tom Rizk
- Brokers: Jordan Roeschlaub, Dustin Stolly, Nick Scribani & Aaron Swerdlin - Newmark
Bank of America, represented by Brian Moynihan, provided a loan amount of $462,500,000 for the refinancing of the property.
Players
Amarillo CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93