EastWest Bank Provides $21.5 Million Bridge Loan For Industrial Property At 5001 East Ben White Boulevard
5001 East Ben White Boulevard
$21
$0/SF
Building Size
125,000 SF
Asset Type
Industrial
Closing
Jan 9, 2025
AI
This transaction involves an industrial asset located at 5001 East Ben White Boulevard in the Austin market. The total square footage of the property is 125,000. A bridge loan was secured for a total amount of $21,500,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $21,500,000
- Address: 5001 East Ben White Boulevard
- Market: Austin
- Lender: EastWest Bank
- Landlord: Christopher Cortese & Jesse Weber - PlaceMKR
- Broker: Zachary Streit - Priority Capital Advisory
- Loan Type: Bridge
- Loan Terms: N/a
The key individuals involved in this transaction include the landlords, Christopher Cortese and Jesse Weber who represent PlaceMKR, and the broker Zachary Streit from Priority Capital Advisory, who facilitated the loan arrangement with EastWest Bank.
Players
Austin Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
755380.95%
Cash-on-Cash
-215890.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93