Roy Pascal's Commerce Park Investors Secures $10M Loan For Whippany Industrial Property
FINANCED
$10,000,000
New Jersey
See Similar DealsIndustrial125,234 SF
Financed 06/16/2023
FINANCED
Roy Pascal's Commerce Park Investors Secures $10M Loan For Whippany Industrial Property
1 Apollo Dr Whippany, NJ 07981, USA
See Similar DealsIndustrial125,234 SF
Financed 06/16/2023
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$79
Total Square Footage:125,234 SF
Transaction Type:Loan
An industrial property located at 1 Apollo Drive in Whippany, NJ, has been involved in a closed transaction. The property spans approximately 125,234 square feet and was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Loan Amount: $10,000,000
- Loan Type: Acquisition
- Loan Terms: 5.875% Fixed for 5 years with 12 months I/O
Roy Pascal of Commerce Park Investors served as the landlord for this transaction. The brokers involved in the deal were Kathy Anderson and Caillin Boles from Progress Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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