Roy Pascal's Commerce Park Investors Secures $10M Loan For Whippany Industrial Property
1 Apollo Dr Whippany, NJ 07981, USA
$10,000,000
$79/SF
Building Size
125,234 SF
Asset Type
Industrial
Closing
Jun 16, 2023
AI
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.
Players
New Jersey Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93