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CIP Real Estate Secures $25.2M Loan For Industrial Properties In Grand Prairie, Dallas, & Fort Worth

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FINANCED
$25,200,000
Jarrod McCabe
Adam Roossien
Stephen Bailey
+ 2

Texas

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Industrial168,600 SF
Financed 01/27/2021
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Property Image
FINANCED

CIP Real Estate Secures $25.2M Loan For Industrial Properties In Grand Prairie, Dallas, & Fort Worth

1840 High Prairie Road, Grand Prairie, TX, USA

See Similar Deals
Industrial168,600 SF
Financed 01/27/2021
Jarrod McCabe
Adam Roossien
Stephen Bailey
+ 2
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$149
Total Square Footage:168,600 SF
Transaction Type:Loan

The industrial property located at 1830 & 1840 High Prairie Road, 2202 Manana Drive, and 5309 Superior Parkway in Grand Prairie, Dallas, and Fort Worth has been involved in a recent loan transaction. The property spans across 35.3 acres and offers a total of 168,600 square feet of space.

Summary of transaction details

  • Property Type: Industrial
  • Market: Grand Prairie, Dallas, and Fort Worth
  • Address: 1830 & 1840 High Prairie Road, 2202 Manana Drive, and 5309 Superior Parkway
  • Square Footage: 168,600
  • Acres: 35.3

CIP Real Estate has secured a $25,200,000 loan from Bank of Hope for the industrial property. The loan terms include a five-year fixed rate, non-recourse agreement. The transaction was facilitated by the brokers Jarrod McCabe and Kevin MacKenzie from JLL.

Players

Kevin MacKenzie
JLL
Kevin MacKenzie
25 deals$4.4B volume(949) 870-8722
BROKER
Stephen Bailey
Newmark
Stephen Bailey
48 deals$323.3M volume(214) 450-7470
BROKER
Dustin Volz
Newmark
Dustin Volz
49 deals$432.2M volume(972) 322-5671
BROKER
Jarrod McCabe
JLL
Jarrod McCabe
5 deals$73.8M volume
BROKER
Adam Roossien
JLL
Adam Roossien
14 deals$138.7M volume
BROKER
Bank of Hope
Bank of Hope
LENDER

Details

FINANCED
IMAGE: Jarrod McCabe & Kevin MacKenzie DATE: 01/27/2021 ADDRESS: 1830 & 1840 High Prairie Road, 2202 Manana Drive, & 5309 Superior Parkway MARKET: Grand Prairie, Dallas, & Fort Worth ASSET TYPE: Industrial SF: 168,600 ACRES: 35.3 BORROWER: CIP Real Estate LENDER: Bank of Hope BROKERS: Jarrod McCabe, & Kevin MacKenzie - JLL LOAN AMOUNT: $25,200,000 LOAN TERMS: Five-year, fixed-rate, non-recourse loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,200,000.00

Monthly NOI$168,000.00
Monthly Debt Service$159,281.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00