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Riverbend Management Secures $112M Financing For Industrial Warehouse In Salt Lake City
FINANCED
$112,000,000
Industrial309,389 SF
Financed 01/30/2024
FINANCED
Riverbend Management Secures $112M Financing For Industrial Warehouse In Salt Lake City
6320 West 300 South
See Similar DealsIndustrial309,389 SF
Financed 01/30/2024
Summary
UTAH
Asset Type:Industrial
Price Per Square Foot:$362
Total Square Footage:309,389 SF
Transaction Type:Loan
The industrial property involved in the transaction is a 309,389-square-foot warehouse located at 6320 West 300 South in Salt Lake City, UT. The property, part of Salt Lake City's Copper Crossing @ I-80, was secured by Riverbend Management through a $112 million credit tenant lease and equipment financing.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $112,000,000
- Address: 6320 West 300 South
- Market: Salt Lake City, UT
- Asset Type: Industrial
Austin Johnson and Bill Cavagnaro from JLL represented Riverbend Management in securing the financing for the industrial property. They played key roles as brokers in ensuring the successful completion of the $112 million credit tenant lease and equipment financing deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$112,000,000.00
Monthly NOI$746,666.67
Monthly Debt Service$707,916.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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