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

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FINANCED
$15,600,000

New Jersey

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Development Site150,000 SF
Financed 06/06/2022
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FINANCED

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

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

See Similar Deals
Development Site150,000 SF
Financed 06/06/2022
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Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$104
Total Square Footage:150,000 SF
Transaction Type:Loan

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

LENDER

Details

FINANCED
IMAGE: Jordan Feldman, Mitchell Feldman, Matthew Beggs & Justin Crow DATE: 06/06/2022 ADDRESS: 119 Kresson Gibbsboro Rd MARKET: Voorhees Township ASSET TYPE: Development Site ~ BSF: 121,000 ~ SF: 150,000 LENDER: New Wave Loans DEVELOPER: The Feldman Companies (@TheFeldmanCompanies) - Jordan Feldman (@Feldman_Jordan), Mitchell Feldman (@BigMitchMiami), Matthew Beggs (@MattBeggs), & Justin Crow (@JustCrow4) LOAN AMOUNT: $15,600,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$15,600,000.00

Monthly NOI$104,000.00
Monthly Debt Service$98,602.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00