Updated Dec 4, 2024
Westcore Secures $25M Refinance Loan For Rockwall Industrial Building, JLL Brokers Assist
1515 Corporate Crossing
$25,000,000
$83/SF
Building Size
301,120 SF
Asset Type
Industrial
Closing
Nov 6, 2023
About this deal
AI
The Rockwall Distribution Center, a new 301,120-square-foot industrial building in Rockwall, Texas, has secured $25 million in financing. The loan was arranged by JLL Capital Markets and comes from a private investment manager. The Class A asset, located in the Dallas-Fort Worth metroplex, is owned by Westcore and will be supported by the loan.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $25,000,000
- Address: 1515 Corporate Crossing
- Market: Rockwall
- Landlord: Westcore - Marc Brutten
- Brokers: Aldon Cole, Bradley Vansant, John Rose & Will Mogk - JLL
JLL Capital Markets played a key role in securing the loan for the Rockwall Distribution Center. The financing will support the industrial building's operations and further enhance its position in the market. With the involvement of brokers from JLL, the transaction was successfully completed to the satisfaction of Westcore, the property's owner.
On the Map
$25,000,000
$83/SF
Industrial
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Players
Rockwall 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
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93