IBorrow Provides $7.9M Loan For Montclair & Clifton Self Storage & Industrial Properties
FINANCED
$7,900,000
New Jersey
See Similar DealsFinanced 04/01/2022
FINANCED
IBorrow Provides $7.9M Loan For Montclair & Clifton Self Storage & Industrial Properties
Montclair, New Jersey, United States
See Similar DealsFinanced 04/01/2022
Summary
NEW JERSEY
Transaction Type:Loan
Two vacant properties located in Montclair and Clifton were involved in a recent closed loan transaction. The properties consist of a self storage facility and an industrial building, with a combined square footage of 48,130. The loan was facilitated by iborrow''>iBorrow, with Brian Good representing the lender. The loan amount for this transaction was $7,900,000.
Summary of transaction details
- Property Type: Self Storage & Industrial
- Transaction Amount: $7,900,000
- Market: Montclair & Clifton
- Lender: iBorrow - Brian Good
This transaction involved two vacant properties, one being a self storage facility and the other an industrial building. The lender for this deal was iBorrow, with Brian Good representing the lender. No additional details were provided regarding the parties involved in the transaction or any other specific information.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,900,000.00
Monthly NOI$52,666.67
Monthly Debt Service$49,933.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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