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

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FINANCED
$137,775,000
Nick Scribani
Jonathan Firestone
+ 1

Texas

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Industrial1,107,509 SF
Financed 08/29/2024
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Property Image
FINANCED

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

2901 Suffolk Drive

See Similar Deals
Industrial1,107,509 SF
Financed 08/29/2024
Nick Scribani
Jonathan Firestone
+ 1
Contact now

Summary

TEXAS
Asset Type:Industrial
Price Per Square Foot:$124
Total Square Footage:1,107,509 SF
Transaction Type:Loan

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.

Players

Nick Scribani
193 deals$55.3B volume(212) 372-2113
BROKER

Jordan (Jordy) Roeschlaub
Newmark
324 deals$97.5B volume
BROKER

Jonathan Firestone
Newmark
38 deals$10.5B volume(310) 709-4910
BROKER

Andrew Porteous
Newmark
1 deal$137.8M volume
BROKER

Beach Point Capital Management
LENDER

Details

FINANCED
IMAGE: Jordan Roeschlaub, Nick Scribani, Jonathan Firestone, Andrew Porteous, Carl Goldsmith, Scott Klein, Josh Harris, Dan Weinstein, Jay Massirman, Stephen Garchik & Anthony Scavo DATE: 08/29/2024 ADDRESS: 2901 Suffolk Drive MARKET: Fort Worth ASSET TYPE: Industrial ~ SF: 1,107,509 LENDER: Carl Goldsmith & Scott Klein - Beach Point Capital Management; Josh Harris - 26North LANDLORD: Dan Weinstein, Jay Massirman, Stephen Garchik & Anthony Scavo (@AnthonyScavoJR) - Basis Industrial (@BasisIndustrial) LANDLORD'S REP: Jordan Roeschlaub (@JordyRoeschlaub), Nick Scribani (@ScribSays), Jonathan Firestone & Andrew Porteous - Newmark (@Newmark) LOAN AMOUNT: $137,775,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$137,775,000.00

Monthly NOI$918,500.00
Monthly Debt Service$870,831.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00