Bill Stein Of Primary Digital Infrastructure And Chase Lochmiller Of Crusoe Energy Systems Secure $3.4B Loan For Industrial Asset In Abilene
5502 Spinks Road
$3,400,000,000
$3,406/SF
Building Size
998,000 SF
Asset Type
Industrial
Closing
Oct 21, 2024
AI
The property asset involved in the transaction is located at 5502 Spinks Road, Abilene, TX, and encompasses an industrial space totaling 998,000 square feet. The transaction involves a loan amount of $3,400,000,000, classified as an equity loan type.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,400,000,000
- Address: 5502 Spinks Road
- Market: Abilene, TX
- Lender: Marc Zahr & Doug Ostrover - Blue OwlCapital
- Landlord: Bill Stein - Primary Digital Infrastructure & Chase Lochmiller - Crusoe Energy Systems
- Brokers: Jordan Roeschlaub, Brent Mayo, Andrew Warin, Chase Tagen & Benjamin Kroll - Newmark
The key individuals and companies involved in the deal include Marc Zahr and Doug Ostrover representing the lender, Blue Owl Capital. The landlord representation features Bill Stein from Primary Digital Infrastructure and Chase Lochmiller from Crusoe Energy Systems. The brokerage side includes five representatives from Newmark: Jordan Roeschlaub, Brent Mayo, Andrew Warin, Chase Tagen, and Benjamin Kroll.
Players
Abilene 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
0.00%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93