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Billingsley Co. Secures $62.4 Million Refinance Loan From Allianz Life Insurance For Denton Distribution Center

Property Image
FINANCED
$62,400,000
Kristi Leonard
Campbell Roche
Jordan Buck

Texas

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Industrial900,000 SF
Financed 09/13/2024
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FINANCED

Billingsley Co. Secures $62.4 Million Refinance Loan From Allianz Life Insurance For Denton Distribution Center

3333 West University Drive

See Similar Deals
Industrial900,000 SF
Financed 09/13/2024
Kristi Leonard
Campbell Roche
Jordan Buck
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$69
Total Square Footage:900,000 SF
Transaction Type:Loan

The property involved in this transaction is an industrial asset located at 3333 West University Drive in Denton, Texas. It encompasses approximately 900,000 square feet and sits on a 50-acre site. The transaction pertains to a refinancing loan amounting to $62.4 million, which supports the financial needs of the Denton Distribution Center.

Summary of transaction details:

This loan transaction was facilitated by the Debt Advisory team at JLL. It serves to refinance a previous construction loan of $61.4 million from Frost Bank, ensuring financial continuity for the center's operation and supporting its fully leased two-building complex.

Players

Kristi Leonard
JLL
Kristi Leonard
3 deals$353.6M volume
BROKER
Campbell Roche
JLL
Campbell Roche
5 deals$210.1M volume(469) 221-7770
BROKER
Jordan Buck
JLL
Jordan Buck
2 deals$170.4M volume
BROKER
Allianz Life Insurance Co
Allianz Life Insurance Co
LENDER

Details

FINANCED
IMAGE: Campbell Roche, Jordan Buck & Kristi Leonard DATE: 09/13/2024 ADDRESS: 3333 West University Drive MARKET: Denton ASSET TYPE: Industrial ~ SF: 900,000 ~ ACRES: 50 LENDER: Allianz Life Insurance Co LANDLORD: Billingsley Co. BROKERS: Campbell Roche, Jordan Buck & Kristi Leonard - JLL (@JLL) LOAN AMOUNT: $62,400,000 LOAN TYPE: Refinance NOTE: Billingsley Co. secured a $62.4 million refinancing loan from Allianz Life Insurance for the newly constructed Denton Distribution Center in Denton, Texas, which spans nearly 900,000 square feet. The loan, facilitated by JLL's Debt Advisory team, refinances a previous $61.4 million construction loan from Frost Bank and supports the center's fully leased two-building complex.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$62,400,000.00

Monthly NOI$416,000.00
Monthly Debt Service$394,410.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00