The trust acquired a 2024-built Class-A industrial cross-dock facility in Midway, Liberty County, Georgia for $78,250,000 at a 7.4% capitalization rate.
Valuation ladder
Acquisition price$78.25M
Offering price$91.51M+16.9%
Appraised value$4.75M5.2% of offering
Cap rate spread & load
Acquisition cap rate7.40%
Upfront load (all-equity)9.50%equity = offering price
Load net of reserves8.33%
Acquisition Price
$78,250,000
Offering Price
$91,509,083
Appraised Value
The stabilized appraised value of the property is reported as $4,750,000 higher than the purchase price.
Upfront Load
—
Load on Equity
—
Load on Offering Price
—
Acquisition Cap Rate
7.4%
Syndicated Cap Rate
—
Premium / Discount
—
Appraisal / Offering %
98.4%
Less Reserves %
9.5%
Strengths
- Acquisition cap rate of 7.4%
- Stabilized appraised value is $4,750,000 above the purchase price
Concerns
- Appraisal represents 98.4% of total offering price