FINANCED
Bridge Industrial Secures $64.3M Construction Loan For Bridge Point 15E In Newark
17 Blanchard Street
Development Site
Financed 332 days ago
Summary
Loan
NEW JERSEY
Development Site
Bridge Industrial has secured a $64.3 million construction loan for Bridge Point 15E, a 211,388-square-foot Class A industrial project located at 17 Blanchard Street in Newark, New Jersey. The loan, provided by Heitman, will be used to finance the completion of the speculative distribution center by the third quarter of 2024.
Summary of transaction details
- Property Type: Development Site
- Loan Amount: $64,300,000
- Loan Type: Construction Loan
- Loan Terms: three-year
- Address: 17 Blanchard Street
- Market: Newark
- Asset Type: Development Site
- BSF: 211,388
- Acres: 12
- Lender: Heitman
- Landlord: Bridge Industrial
- Brokers: Michael Lachs, Michael Klein & Jon Mikula - JLL
JLL, represented by Michael Lachs, Michael Klein, and Jon Mikula, arranged the loan on behalf of the developer. This financing will support the finalization of the Bridge Point 15E project, further enhancing the industrial landscape in Newark.
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4
Agents
3
Agencies
1
Details
FINANCED
IMAGE: Jon Mikula, Michael Klein & Michael Lachs
DATE: 06/06/2023
ADDRESS: 17 Blanchard Street
MARKET: Newark
ASSET TYPE: Development Site ~ BSF: 211,388 ~ ACRES: 12
LENDER: Heitman
LANDLORD: Bridge Industrial
BROKERS: Michael Lachs, Michael Klein & Jon Mikula - JLL (@JLL)
LOAN AMOUNT: $64,300,000
LOAN TYPE: Construction Loan
LOAN TERMS: three-year
NOTE: Bridge Industrial has secured a $64.3 million construction loan for Bridge Point 15E, a 211,388-square-foot Class A industrial project in Newark, New Jersey. The loan, arranged by JLL on behalf of the developer, is set to finance the completion of the speculative distribution center by the third quarter of 2024.View on map
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Address17 Blanchard Street
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