Cushman & Wakefield Arranges Sale, Financing Of Newly Constructed 2-Building Portfolio
The small-bay light industrial buildings were 95% leased at the time of sale to 42 tenants.
The small-bay light industrial buildings were 95% leased at the time of sale to 42 tenants.
The buyer is a JV whose principal firms include East Capital Partners, Tramview Capital Management, and ABR Capital Partners.
The portfolio was sold in four separate transactions to two different buyers.
Jason Hochman and Ron Granite of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the loan through Ameris Bank.
Mike Davis, Dominic Montazemi, Mike McDonald, Miguel Alcivar, Rick Brugge, Rick Colon, and Adam Spies of Cushman & Wakefield represented the seller, USPO Miami, LLC, in the transaction.
Scott O’Donnell, Mike Ciadella, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman, and Ron Granite of Cushman & Wakefield represented the seller in the transaction.
The final sale price was $22 million, equating to $155 per square foot.
Cushman & Wakefield secured $9 million in acquisition financing through Principal Life on behalf of the buyer.
Jason Hochman and Ron Granite of Cushman & Wakefield secured $46.3 million in acquisition financing through Argentic Investment Management on behalf of the buyers.
The real estate investment management group purchased the 109,497-square-foot building for $44.6 million.
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