Galaxy Lands $50M Refi for Miami Warehouse Portfolio

Galaxy Industrial obtained a $50 million refinancing on the Galaxy Industrial Portfolio, a 689,940-square-foot amalgamation of 20 warehouse buildings located in the Medley submarket of Miami. 

Charles J. Foschini, Christopher Apone, Lourdes Carranza-Alvarez, Shannon Wilson and Luke Maganas of Berkadia Miami secured the million on behalf of Galaxy. 

Ocean Bank provided the five-year, fixed-rate loan with two five-year extension options, and a 12-month interest-only period.  

Built between 1982 and 1995, the portfolio’s properties are located within a mile of each other at 7902 – 8180 NW 66th Street; 8430-8600 NW 72nd Street; 8610-8693 NW 70th Street; 7061-7185 NW 87th Avenue; 6900-6931 NW 84th Avenue; 8402-8620 NW 70th Street; and 8501 – 8611 NW 72nd Street, Miami, Florida 33166.

The portfolio is 97.4% occupied, catering primarily to tenants in the packing, logistics, and shipping sectors. 

The Medley industrial market is located just north of Miami International Airport and 15 miles from Port Miami.

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