Romulus - Huron
An industrial property in Romulus, Michigan. Securitized in 1 CMBS deal in 2023.
$70.7MAppraised value (latest deal)
100.0%Occupancy
$4.4MUnderwritten NOI
6.2%Implied cap rate
- Address
- 38481 Huron River Drive, Romulus, MI 48174
- Property type
- Industrial · Manufacturing/Warehouse
- Year built
- 1956
- Size
- 1,112,004 SF
- Sponsor
- Industrial Commercial Properties and Industrial Realty Group
- Loan purpose
- Refinance
- Largest tenant
- Renaissance Global Logistics
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| BMO 2023-5C1 | 2023-08-16 | $70.7M | 100.0% | $4.4M | 6.2% | $13.5M | 58.5% | 1.39x | 424B |
Historical NOI reported in BMO 2023-5C1
| Period ending | NOI |
|---|---|
| 1/31/2023 | $4.1M |
| 12/31/2022 | $4.1M |
More CMBS properties in Michigan →
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%.