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119 Kresson Gibbsboro Road,...

Updated Oct 28, 2024

The Feldman Companies Secures $15.6M Construction Loan For Development Site In Voorhees Township
FINANCEDDevelopment Site

The Feldman Companies Secures $15.6M Construction Loan For Development Site In Voorhees Township

119 Kresson Gibbsboro Road, Voorhees, New Jersey 08043, United States

$15,600,000

$104/SF

Building Size

150,000 SF

Asset Type

Development Site

Closing

Jun 5, 2022

About this deal

AI

The Feldman Companies, represented by Jordan Feldman, Mitchell Feldman, Matthew Beggs, and Justin Crow, have secured a $15,600,000 construction loan from New Wave Loans for a development site located at 119 Kresson Gibbsboro Rd in Voorhees Township. The site, with a building square footage (BSF) of 121,000 and a total square footage (SF) of 150,000, presents a promising opportunity for future development.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $15,600,000
  • Address: 119 Kresson Gibbsboro Rd, Voorhees Township
  • Market: Voorhees Township
  • Loan Type: Construction

New Wave Loans has provided The Feldman Companies with a construction loan of $15,600,000 to support the development of the property. The loan will finance the construction of a new project on the development site, contributing to its growth and potential in the market. The Feldman Companies, led by Jordan Feldman, Mitchell Feldman, Matthew Beggs, and Justin Crow, have demonstrated their expertise in the real estate industry, making them well-suited to undertake this development venture.

Players

New Wave Loans
New Wave LoansLender

Voorhees Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Deal FAQ

About $104 per square foot on a published $15.6M for 150,000 square feet (2022).

Browse New Jersey development site loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.02%

Cash-on-Cash

-0.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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