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5502 Spinks Road

Bill Stein Of Primary Digital Infrastructure And Chase Lochmiller Of Crusoe Energy Systems Secure $3.4B Loan For Industrial Asset In Abilene
FINANCEDIndustrial

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:

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

Benjamin Kroll

Newmark

Broker

$14.6B

vol

13 deals

Broker

Abilene 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

0.00%

Cash-on-Cash

-0.00%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93