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Jared Cassidy Of Marcus & Millichap Secures $6.1 Million Loan For Triumph Industrial Development In Elkton
FINANCED
$6,100,000
Maryland
See Similar DealsIndustrial
Financed 03/25/2025
FINANCED
Jared Cassidy Of Marcus & Millichap Secures $6.1 Million Loan For Triumph Industrial Development In Elkton
505 Blue Ball Road
See Similar DealsIndustrial
Financed 03/25/2025
Summary
MARYLAND
Asset Type:Industrial
Transaction Type:Loan
The asset involved in this transaction is located at 505 Blue Ball Road in Elkton, MD. It is classified as an industrial property and involves a loan of $6,100,000 for refinancing purposes.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,100,000
- Loan Type: Refinance
- Landlord: Triumph Industrial Development, LLC
- Broker: Jared Cassidy - Marcus & Millichap
- Market: Elkton, MD
Jared Cassidy, a Senior Director at Marcus & Millichap, played a crucial role in securing the refinancing from a Pennsylvania lender after a regional bank withdrew just 30 days before maturity. This financing was critical to successfully closing a complex estate settlement for Triumph Industrial Park.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,100,000.00
Monthly NOI$40,666.67
Monthly Debt Service$38,556.15
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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