D2 Organization Secures $7.5 Million Loan From Romspen For Carneys Point Development Site Acquisition

The asset involved in the transaction is a 76-acre industrial development site located at 965 Harding Highway in Carneys Point, NJ, with a building square footage of 476,300. The acquisition was financed through a loan amounting to $7,500,000, facilitated by Romspen. This non-recourse financing was utilized to cover the purchase price of $5.7 million and associated pre-development costs.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $7,500,000
• Lender: Romspen
• Landlord: D2 Organization
• Loan Type: Acquisition
• Brokers: Jack Cortese & David Frankel - D2 Capital Advisors

The financing for the acquisition was arranged by D2 Capital Advisors, representing D2 Organization. This financing structure allowed for a loan exceeding the land purchase price at 130% Loan to Purchase Price (LTPP), facilitating the necessary funding for development activities.