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Investors Bank Provides $11.1M Construction Loan For Development Site In NJ

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FINANCED
$11,162,000

New Jersey

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FINANCED

Investors Bank Provides $11.1M Construction Loan For Development Site In NJ

2000 Lowther Drive, Eatontown, New Jersey, USA

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Development Site
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Summary

NEW JERSEY
Asset Type:Development Site
Transaction Type:Loan

A development site located at 2000 Lowther Drive in NJ has been involved in a recent closed transaction. The property, owned by Salvatore Martelli, was the focus of the deal. The transaction was facilitated by broker Gregory Vassilakos from Cosmos Capital Group. Investors Bank provided a loan for the transaction, amounting to $11,162,000. The loan type was construction.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $11,162,000
  • Address: 2000 Lowther Drive, NJ
  • Landlord: Salvatore Martelli
  • Broker: Gregory Vassilakos - Cosmos Capital Group
  • Lender: Investors Bank
  • Loan Type: Construction

It is worth noting that the property, located at 2000 Lowther Drive, is a development site. Interest in this property was facilitated by Gregory Vassilakos from Cosmos Capital Group, who represented the involved parties in the deal. The loan for the transaction, amounting to $11,162,000, was provided by Investors Bank.

Players

7 deals$125.1M volume
BROKER

Investors Bank
LENDER

Details

FINANCED
IMAGE: Gregory Vassilakos DATE: 08/19/2021 ADDRESS: 2000 Lowther Drive MARKET: NJ ASSET TYPE: Development Site LENDER: Investors Bank (@InvestorsBank) LANDLORD: Salvatore Martelli BROKER: Gregory Vassilakos (@Gregory_Vass) - Cosmos Capital Group (@Cosmos_Capital_Group) LOAN AMOUNT: $11,162,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$11,162,000.00

Monthly NOI$74,413.33
Monthly Debt Service$70,551.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00