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Affinius Capital Provides $85M Loan For Acquisition Of Industrial Warehouse In Suffolk, VA

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FINANCED
$85,000,000
Scott Lewis
Matt Ballard

Virginia

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Industrial814,000 SF
Financed 08/07/2023
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FINANCED

Affinius Capital Provides $85M Loan For Acquisition Of Industrial Warehouse In Suffolk, VA

150 Judkins Court Suffolk, Virginia 23434, USA

See Similar Deals
Industrial814,000 SF
Financed 08/07/2023
Scott Lewis
Matt Ballard
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$104
Total Square Footage:814,000 SF
Transaction Type:Loan

An $85 million loan has been secured by Affinius Capital LLC for the acquisition of an 814,000-square-foot industrial warehouse located at 150 Judkins Ct in Suffolk, VA. The property is situated in the Hampton Roads region of Virginia.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $85,000,000
  • Square Footage: 814,000
  • Address: 150 Judkins Ct
  • Market: Suffolk, VA

The loan was provided by Affinius Capital LLC, previously known as Square Mile Capital Management and USAA Real Estate. This loan will facilitate the acquisition of the industrial warehouse. The deal involved Matt Ballard and Scott Lewis of CBRE acting as brokers, representing the buyer, while Eric Cohen from Affinius Capital LLC served as the lender. The property's landlord is Andrew Schlossberg of Invesco Real Estate.

Players

Scott Lewis
Newmark
Scott Lewis
3 deals$185M volume(214) 497-7171
BROKER
Matt Ballard
CBRE
Matt Ballard
3 deals$330.8M volume(214) 979-5694
BROKER
Affinius Capital
Affinius Capital
LENDER
Invesco Real Estate
Invesco Real Estate
LANDLORD

Details

FINANCED
IMAGE: Matt Ballard, Scott Lewis & Andrew Schlossberg DATE: 08/07/2023 ADDRESS: 150 Judkins Ct MARKET: Suffolk, VA ASSET TYPE: Industrial ~ SF: 814,000 LENDER: Affinius Capital - Eric Cohen LANDLORD: Andrew Schlossberg - Invesco Real Estate BROKERS: Matt Ballard & Scott Lewis - CBRE LOAN AMOUNT: $85,000,000 LOAN TYPE: Acquisition NOTE: Affinius Capital LLC, formerly Square Mile Capital Management and USAA Real Estate, has provided an $85 million loan for the acquisition of an 814,000-square-foot industrial warehouse in the Hampton Roads region of Virginia.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$85,000,000.00

Monthly NOI$566,666.67
Monthly Debt Service$537,257.82
Change in Cash Flow$0.00
Refinance Proceeds$0.00