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Landmark Companies Secures $39.5M Bridge Loan For Mesquite Industrial Properties

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FINANCED
$39,500,000

Texas

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Industrial710,000 SF
Financed 03/21/2024
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FINANCED

Landmark Companies Secures $39.5M Bridge Loan For Mesquite Industrial Properties

2401 East Meadows Boulevard & 2601 East Meadows Boulevard

See Similar Deals
Industrial710,000 SF
Financed 03/21/2024
Contact now

Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$55
Total Square Footage:710,000 SF
Transaction Type:Loan

The industrial properties located at 2401 & 2601 East Meadows Boulevard in Mesquite, Texas, spanning 355,000 square feet, were involved in a recent transaction. Julia Baytler of Landmark Companies secured a $39.5 million bridge loan for these fully leased properties in the East Texas industrial market. The loan was arranged by Thorofare Capital andPeak Rock Capital, supporting Landmark's manufacturing and distribution operations.

Summary of transaction details:

The bridge loan will facilitate Landmark's operational activities within the robust industrial market of Mesquite, Texas, maintaining the fully leased status of the properties. The successful transaction was overseen by key individuals in the deal, including the brokers Aj Felberbaum, Jay Miller, and Spencer Miller from BayBridge Real Estate Capital, ensuring the smooth completion of the financing to support Landmark's strategic initiatives.

Players

Aj Felberbaum
31 deals$2.4B volume(646) 213-7600
BROKER

Jay Miller
BayBridge Real Estate Capital
34 deals$2.6B volume(646) 213-7561
BROKER

Spencer Miller
BayBridge Real Estate Capital
30 deals$2.4B volume
BROKER

Thorofare Capital
LENDER

Details

FINANCED
IMAGE: Julia Baytler, Jay Miller, Aj Felberbaum & Spencer Miller DATE: 03/21/2024 ADDRESS: 2401 & 2601 East Meadows Boulevard MARKET: Mesquite ASSET TYPE: Industrial ~ SF: 355,000 LENDER: Thorofare Capital (@ThorofareCapital) & Peak Rock Capital LANDLORD: Julia Baytler - Landmark Companies BROKERS: Aj Felberbaum, Jay Miller & Spencer Miller - BayBridge Real Estate Capital LOAN AMOUNT: $39,500,000 LOAN TYPE: Bridge Loan NOTE: Florida-based Landmark Companies secured a $39.5 million bridge loan for two fully leased industrial properties near Dallas in Mesquite, Texas. The loan, facilitated by Thorofare Capital and Peak Rock Capital, will support Landmark's manufacturing and distribution operations in the East Texas industrial market.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$39,500,000.00

Monthly NOI$263,333.33
Monthly Debt Service$249,666.87
Change in Cash Flow$0.00
Refinance Proceeds$0.00