Updated Feb 28, 2025
John Vickers Of Tishman Realty Secures $58 Million Loan From PGIM For Industrial Facility In Fort Worth
14901 Beach Street
$58,000,000
$52/SF
Building Size
1,110,000 SF
Asset Type
Industrial
Closing
Feb 27, 2025
About this deal
AI
An industrial facility located at 14901 North Beach Street in Fort Worth, Texas encompasses a total square footage of 1,110,000. The property was fully leased to LG Corp. and functions as a distribution center. The acquisition was funded through a loan amounting to $58 million for the fixed-rate financing provided by PGIM Real Estate.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $58,000,000
- Asset Square Footage: 1,110,000
- Address: 14901 North Beach Street
- Market: Fort Worth
- Lender: PGIM
- Landlord: John Vickers - Tishman Realty
- Loan Type: Acquisition
- Loan Terms: 6.5-year
Key individuals in this transaction include John Vickers, representing Tishman Realty, who is the landlord involved in the deal. PGIM facilitated the financing for the acquisition, indicating their role as the lender in this transaction.
On the Map
$58,000,000
$52/SF
Industrial
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Players
Fort Worth 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93