KDM2019-N004 Print

Closed and Securitized $37,000,000.00 4724 hits

Summary

  • Location Independence, OH
  • Price $37,000,000.00
  • Property Type: Industrial
  • Status: Closed and Securitized
  • Note Status:
    • Current
  • Loan Status:
    • Current
  • CUSIP: 50067HAC1
  • Closing Date: 2019-10-10
  • LTV: 64.90 %
  • Maturity Date: 2024-11-25
  • EJ Rating: A

Property Description

First lien on three industrial properties occupied by major tenants in Ohio, Georgia, and Okahoma.

$37,000,000 at 65% LTV.

5 year loan, 36 month interest guarantee, 30 year amortization schedule.

The GA property was sold and released in 2021.

Kichler has decided to vacate the Independence, Ohio property. However, the borrower has agreed, as of March 2022, to personally guarantee the interest carry on the loan once Kichler vacates in July 2022. We also have an interest guarantee that can cover approximately 8 months of additional interest. Newmark is handling the lease up on the property.

Documents

Annual Review :
Additional Documents:

Map