Bridgeinvest Provides $16.1M Acquisition Loan For Development Site In Carneys Point
FINANCED
$16,100,000
New Jersey
See Similar DealsDevelopment Site
Financed 12/22/2022
FINANCED
Bridgeinvest Provides $16.1M Acquisition Loan For Development Site In Carneys Point
1 Collins Drive
See Similar DealsDevelopment Site
Financed 12/22/2022
Summary
NEW JERSEY
Asset Type:Development Site
Transaction Type:Loan
A development site located at 1, 3, 4, & 7 Collins Drive in Carneys Point has been involved in a recent transaction. The property spans an area of 586,000 square feet and is categorized as a development site. The transaction took place on 12/22/2022.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $16,100,000
- Lender: Bridgeinvest
- Landlord: D2 Organization
- Landlord's Representative: Jack Cortese & David Frankel - D2 Capital Advisors
- Loan Type: Acquisition Loan
Jack Cortese and David Frankel from D2 Capital Advisors represented the landlord, D2 Organization, in this transaction. The loan in the amount of $16,100,000 was provided by Bridgeinvest for the acquisition of the development site at 1, 3, 4, & 7 Collins Drive.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,100,000.00
Monthly NOI$107,333.33
Monthly Debt Service$101,762.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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