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W&D Seals $96M FL Industrial Deal

By Tony Seruga

The loan package covers 13 properties in Miami and Fort Lauderdale. Strong fundamentals make South Florida attractive to lenders.

Walker & Dunlop Inc. recently closed a $96 million loan package for a 1.6 million-square-foot industrial portfolio in Florida, and did so in a flash—just 45 days, to be precise. The firm orchestrated the financing for the assets, located in Miami and Fort Lauderdale, through one of its life company correspondents.

BAKER’S DOZEN

The financing comes in the form of 13 loans, one for each of the portfolio’s 13 properties, and features what W&D describes as an attractive interest rate. The group of industrial facilities turned the heads of the lending community. “Because of the record-low vacancies, rising rents and lender appetite for this asset type, lenders are extremely competitive, and that leads to better loan terms for our borrowers,” Nikki Perez, senior analyst with Walker & Dunlop Inc., told Commercial Property Executive…

W&D Seals $96M FL Industrial Deal

Categories : Commercial Real Estate

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