**Galaxy Industrial Secures $50M Refinance for Miami Warehouse Portfolio**
Galaxy Industrial has secured a $50 million refinancing package for the Galaxy Industrial Portfolio, a collection of 20 warehouse buildings totaling 689,940 square feet in the Medley submarket of Miami.
The financing was arranged by Charles J. Foschini, Christopher Apone, Lourdes Carranza-Alvarez, Shannon Wilson, and Luke Maganas from Berkadia Miami, acting on behalf of Galaxy Industrial.
Ocean Bank provided the five-year, fixed-rate loan, which includes a 12-month interest-only period and options for two five-year extensions.
The warehouse portfolio was constructed between 1982 and 1995 and is composed of properties within a mile radius at the following addresses:
– 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
– 8501–8611 NW 72nd Street
Currently, the portfolio is 97.4% occupied, primarily serving tenants in the packing, logistics, and shipping industries.
Situated just north of Miami International Airport and approximately 15 miles from Port Miami, the Medley industrial market continues to be a strategic hub for industrial and distribution operations in South Florida.
