Updated Feb 16, 2024
TD Bank Provides $4.36M Construction Loan For Special Purpose Sports Complex In Egg Harbor, NJ
3324 Bargaintown Road, Egg Harbor Township, New Jersey 08234, United States
$4,362,000
$101/SF
Building Size
43,050 SF
Asset Type
—
Closing
Feb 20, 2022
About this deal
AI
The special purpose property located at 3324 Bargaintown Road in Egg Harbor, NJ has been involved in a closed transaction. The property, which is currently a to-be-built elite sports complex, spans a total area of 43,050 square feet.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $4,362,000
- Lender: TD Bank
- Landlord: Tom Collins & Ted Petit
- Brokers: Brian Anderson & Eddie Miro - Progress Capital
The key individuals and companies involved in this transaction include Tom Collins and Ted Petit, who are the landlords of the property. The loan for this transaction was provided by TD Bank in the form of a construction loan. The brokers who facilitated this deal were Brian Anderson and Eddie Miro from Progress Capital.
Players
Egg Harbor Township CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.64%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93