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Marcus & Millichap Arranges $11M Financing for Acquisition of Kona Ice HQ in KY
Marcus & Millichap Capital Corporation has arranged $10.9 million in financing for the acquisition of Kona Ice Corporate Headquarters at 5945 Centennial Circle in Florence, KY.
The financing was exclusively arranged by MMCC’s Dean Giannakopoulos and Frank Montalto.
“Our client engaged us to secure long-term, fixed-rate financing,” said Giannakopoulos. “After a competitive bid process, we transacted with a national lender that was the most strategic fit for this secure, long-term net leased asset.”
The 10-year, 70-percent LTV loan has a three-year interest-only term.
The 93,470-square foot property is the global headquarters for Kona Ice Corp., a mobile food and beverage franchise owner with more than 1,300 franchises in 48 states and three countries. The property is near I-7 and Cincinnati/Northern Kentucky International Airport, as well as directly across the street from a newly constructed, $1.5 billion Amazon Air Hub.
- ◦Sale/Acquisition
