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2901 Suffolk Drive

Updated Dec 4, 2024

Basis Industrial Secures $137.78M Acquisition Loan For Fort Worth Industrial Property
FINANCEDIndustrial

Basis Industrial Secures $137.78M Acquisition Loan For Fort Worth Industrial Property

2901 Suffolk Drive

$137,775,000

$124/SF

Building Size

1,107,509 SF

Asset Type

Industrial

Closing

Aug 29, 2024

About this deal

AI

The property asset involved in the transaction is located at 2901 Suffolk Drive in Fort Worth, featuring an industrial asset type with a total square footage of 1,107,509. The loan amount secured for the acquisition is $137,775,000.

Summary of transaction details:

The deal involves key individuals including lenders Carl Goldsmith and Scott Klein from Beach Point Capital Management, along with Josh Harris from 26North. The representation for the landlord includes Dan Weinstein, Jay Massirman, Stephen Garchik, and Anthony Scavo from Basis Industrial, with support from their brokers Jordan Roeschlaub, Nick Scribani, Jonathan Firestone, and Andrew Porteous from Newmark.

On the Map

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$137,775,000

$124/SF

Industrial

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Players

Nick Scribani

Newmark

Broker

$59B

vol

208 deals

Broker
Beach Point Capital Management
Beach Point Capital ManagementLender
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Fort Worth Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

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Deal FAQ

About $124 per square foot on a published $137.8M for 1,107,509 square feet (2024).

Visit Jordan (Jordy) Roeschlaub to view all their deals.

Browse Fort Worth industrial loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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