Ready Capital Secures $8M Loan For Industrial Property At 511 Byers Rd In Miamisburg, OH

An industrial property located at 511 Byers Rd in Miamisburg, OH has recently been involved in a closed transaction. The property spans approximately 196,000 square feet and is categorized as an industrial asset. The transaction took place on November 24, 2021, and the property was acquired through an acquisition and stabilization loan.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $8,000,000
• Loan Type: Acquisition & Stabilization
• Loan Terms: Nonrecourse loan with interest-only payments, a floating rate, and a four-year term

The landlord associated with this property is Ready Capital, represented by David A. Cohen. The loan amount for this transaction was $8,000,000, and it was obtained for the purpose of acquiring and stabilizing the property. The loan terms include nonrecourse features, interest-only payments, a floating rate, and a four-year term.