Ward Fitzgerald Of EQT Exeter Acquires Industrial Properties From Provident Industrial In El Paso
Ashtabula Avenue
Building Size
576,365 SF
Asset Type
Industrial
Closing
Aug 7, 2024
AI
The transaction involved the sale of Buildings I & II of Gateway Logistics Park located at 12221 & 12228 Ashtabula Avenue in El Paso. The industrial property encompasses a total of 576,365 square feet and includes features such as high clear heights, multiple trailer and dock spaces, and a strategic location near Loop 375 and the Ysleta-Zaragoza Port of Entry. The buildings were completed in late 2023 and early 2024.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Buyer: Ward Fitzgerald - EQT Exeter
- Seller: Case Van Lare & Chris Martin - Provident Industrial
This transaction highlights the involvement of Ward Fitzgerald, representing EQT Exeter as the buyer, and the sellers, Case Van Lare and Chris Martin, representing Provident Industrial. They played a critical role in facilitating the exchange of these industrial properties as part of their respective companies' operational strategies.
Players
El Paso Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93