Updated Mar 11, 2025
IBorrow Provides $7.9M Loan For Montclair & Clifton Self Storage & Industrial Properties
Montclair, New Jersey, United States
$7,900,000
Building Size
—
Asset Type
—
Closing
Mar 31, 2022
About this deal
AI
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.
On the Map
$7,900,000
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Players
Montclair CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.01%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93