Updated Oct 29, 2024
Lightstone Group Secures $14.4M Loan For Industrial Property On Forest Lane In Garland
4040 Forest Lane, Garland, TX, USA
$14,400,000
$22/SF
Building Size
649,361 SF
Asset Type
Industrial
Closing
Feb 1, 2021
About this deal
AI
The industrial property located at 4040 Forest Lane in Garland recently underwent a closed transaction. The property spans an impressive 649,361 square feet, making it a significant asset in the area.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $14,400,000
- Date: 02/02/2021
- Address: 4040 Forest Lane
- Market: Garland
- Asset Type: Industrial
- Square Footage: 649,361
The borrower, Lightstone Group, represented by David Lichtenstein, successfully secured a loan for the property. The lender, RGA Reinsurance Co., provided a seven-year fixed-rate loan in the amount of $14,400,000. JLL Capital Markets acted as the broker in this transaction.
Players
Garland 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
1.10%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93