4000 Principio Parkway
An industrial property in North East, Maryland. Securitized in 4 CMBS deals in 2022.
$140.0MAppraised value (latest deal)
100.0%Occupancy
$5.4MUnderwritten NOI
3.8%Implied cap rate
- Address
- 4000 Principio Parkway East, North East, MD 21901
- Property type
- Industrial · Warehouse / Distribution
- Year built
- 2006-2012
- Size
- 1,194,744 SF
- Sponsor
- Industrial Logistics Properties Trust
- Loan purpose
- Recapitalization
- Largest tenant
- Restoration Hardware
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| MSC 2022-L8 | 2022-04-07 | $140.0M | 100.0% | $5.4M | 3.8% | $3.0M | 29.0% | 3.12x | 424B |
| WFCM 2022-C62 | 2022-04-18 | $140.0M | 100.0% | $5.4M | 3.8% | $1.9M | 29.0% | 3.12x | 424B |
| BANK 2022-BNK41 | 2022-05-05 | $140.0M | 100.0% | $5.4M | 3.8% | $1.5M | 29.0% | 3.12x | 424B |
| BBCMS 2022-C16 | 2022-06-28 | $140.0M | 100.0% | $5.4M | 3.8% | $4.9M | 29.0% | 3.12x | 424B |
Historical NOI reported in BBCMS 2022-C16
| Period ending | NOI |
|---|---|
| 12/31/2021 | $5.0M |
| 12/31/2020 | $5.0M |
| 12/31/2019 | $4.9M |
More CMBS properties in Maryland →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.