Updated Dec 20, 2023
Northmarq Arranges $28.1M Construction Loan For 248,000 SF Industrial Property In Tacoma, WA
1950 South State Street, Tacoma, Washington 98405, United States
$28,100,000
$113/SF
Building Size
248,000 SF
Asset Type
Industrial
Closing
Jan 6, 2022
About this deal
AI
An industrial property located at 1950 S State St in Tacoma, WA has been involved in a recent closed transaction.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $28,100,000
- Square Footage: 248,000
- Address: 1950 S State St, Tacoma, WA
- Market: Tacoma, WA
The deal was facilitated by Scott Moline and Bob Spiro from Northmarq acting as brokers.
The transaction involved a construction loan of $28,100,000. The loan has a three-year term and is structured as an interest-only loan.
The industrial loan at 1950 South State Street, Tacoma, Washington 98405, United States in Tacoma, Washington financed for $28.1M in 2022. The building is 248,000 square feet, implying about 113 per square foot on the published price. Scott Moline, Bob Spiro, NorthMarq appear on the loan alongside NorthMarq. This page is the Tacoma, Washington file for the 1950 South State Street, Tacoma, Washington 98405, United States industrial financed: pricing, party profiles, and other closed industrial comps from the same Tacoma sit in the Market section below. Filter that Tacoma industrial set by closing date to see what else financed near 1950 South State Street, Tacoma, Washington 98405, United States around 2022. Published consideration for 1950 South State Street, Tacoma, Washington 98405, United States is $28.1M, dated 2022. Cite this Northmarq Arranges $28.1M Construction Loan For 248,000 SF Industrial Property In Tacoma, WA loan when underwriting similar industrial product around Tacoma, Washington.
Players
Tacoma 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93