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LMF Commercial Provides Acquisition Loan For Industrial Asset In Forney Totaling $9.5M

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FINANCED
$5,770,000

Texas

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Industrial111,000 SF
Financed 12/18/2024
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FINANCED

LMF Commercial Provides Acquisition Loan For Industrial Asset In Forney Totaling $9.5M

12950 Fm 1641

See Similar Deals
Industrial111,000 SF
Financed 12/18/2024
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Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$52
Total Square Footage:111,000 SF
Transaction Type:Loan

The property asset involved in this transaction is an industrial asset located at 12950 Fm 1641 in Forney, covering a total square footage of 111,000. The financing for this acquisition was provided by LMF Commercial, a notable lender in the commercial real estate sector.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Loan Type: Acquisition
  • Loan Terms: 5 Years IO
  • Lender: LMF Commercial - Michael Fogel

Michael Fogel represents LMF Commercial in this transaction, a lender that specializes in originating non-recourse, long-term, fixed-rate loans secured by income-producing commercial and multifamily properties across the United States. LMF has a strong track record, having originated over $13 billion in loans since its inception in 2013, and operates as a wholly owned subsidiary of Lennar, a leading home builder in the U.S.

Players

BROKERAGE

3 deals$22.2M volume
LENDER

Details

FINANCED
IMAGE: Michael Fogel DATE: 12/18/2024 ADDRESS: 12950 Fm 1641 MARKET: Forney ASSET TYPE: Industrial ~ SF: 111,000 LENDER: LMF Commercial (@LMFCommercial) - Michael Fogel (@MichaelaFogel) LOAN TYPE: Acquisition LOAN TERMS: 5 Years IO NOTE FROM LENDER: LMF is a commercial property mortgage lender which originates primarily non-recourse, long term, fixed-rate loans secured by income-producing commercial and multifamily properties across the United States. Since its inception in 2013, LMF has originated in excess of $13 billion in loans, making it one of the largest non-bank commercial mortgage lenders in the U.S. LMF Commercial is a wholly owned subsidiary of Lennar (NYSE: LEN), the nation’s leading home builder and a Fortune 100 Company.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,770,000.00

Monthly NOI$38,466.67
Monthly Debt Service$36,470.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00