Updated May 12, 2025
Jared Cassidy Of Marcus & Millichap Secures $6.1 Million Loan For Triumph Industrial Development In Elkton
505 Blue Ball Road
$6,100,000
Building Size
—
Asset Type
Industrial
Closing
Mar 25, 2025
About this deal
AI
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.
On the Map
$6,100,000
Industrial
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Elkton Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93