Updated Dec 4, 2024
Riverbend Management Secures $112M Financing For Industrial Warehouse In Salt Lake City
6320 West 300 South
$112,000,000
$362/SF
Building Size
309,389 SF
Asset Type
Industrial
Closing
Jan 30, 2024
About this deal
AI
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.
Players
Salt Lake City Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93