Meridian Capital Group Brokers Secure $7M& Loan For Industrial Property In Toms River, NJ
FINANCED
$7,017,250
National
See Similar DealsIndustrial26,000 SF
Financed 09/06/2022
FINANCED
Meridian Capital Group Brokers Secure $7M& Loan For Industrial Property In Toms River, NJ
1820 Route 9, Toms River, NJ 08755
See Similar DealsIndustrial26,000 SF
Financed 09/06/2022
Summary
Asset Type:Industrial
Price Per Square Foot:$269
Total Square Footage:26,000 SF
Transaction Type:Loan
Located at 1820 Route 9 in Toms River, NJ, this industrial property spans across 26,900 square feet. The deal closed on 09/06/2022, with a loan amount of $7,017,250. The loan was obtained through a combination of SBA 504 Loan and SBA 7a Loan types. The terms of the loan included 90%+ financing and the provision of 3 years of interest-only payments by the Bank.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $7,017,250
- Address: 1820 Route 9, Toms River, NJ
- Market: Toms River, NJ
- Loan Type: SBA 504 Loan & SBA 7a Loan
- Loan Term: 3 years of interest only payments
The deal was facilitated by the brokers Isaac Filler, Yossi Koschitzki, and Elliot Levy from the Meridian Capital Group. Their expertise and representation played a crucial role in successfully closing this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,017,250.00
Monthly NOI$46,781.67
Monthly Debt Service$44,353.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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