Faropoint Ventures Acquires 59,028 SF Industrial Property In Garland
3857 Miller Park Drive, Garland, Texas 75042, United States
Building Size
59,028 SF
Asset Type
Industrial
Closing
May 16, 2022
AI
Faropoint Ventures has acquired an industrial property located at 3857 Miller Park Drive in Garland. The property spans approximately 59,028 square feet and was sold by an undisclosed seller on May 17, 2022.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 3857 Miller Park Drive
- Market: Garland
- Brokers: Travis McEldowney & Jack Gaffney - Finial Group
Travis McEldowney and Jack Gaffney from Finial Group represented Faropoint Ventures in the transaction, showcasing their expertise in facilitating industrial property deals.
Players
Garland 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