Updated Oct 29, 2024
Pnc Bank Provides $12.6M Loan For 300 Sheffield Avenue Industrial Property In East New York
300 Sheffield Dr, Fort Worth, TX 76134, USA
$12,600,000
$119/SF
Building Size
105,389 SF
Asset Type
Industrial
Closing
Jul 28, 2020
About this deal
AI
The industrial property located at 300 Sheffield Avenue in East New York has been involved in a recent closed transaction. The property spans a total of 105,389 square feet and is owned by Urban Storage Fund, represented by Robert E. Doole. The transaction has been secured with a loan amount of $12,600,000 provided by Pnc Bank.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $12,600,000
- Address: 300 Sheffield Avenue
- Market: East New York
- Landlord: Urban Storage Fund – Robert E. Doole
In this deal, Pnc Bank has acted as the lender to finance the transaction. Robert E. Doole, representing Urban Storage Fund, has facilitated the transaction as the landlord. This closed transaction exemplifies the ongoing commercial activity in the East New York market for industrial properties.
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
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93