First Bank Provides $9M Loan For Industrial Property In Berkeley Heights
FINANCED
$9,000,000
New Jersey
See Similar DealsIndustrial77,875 SF
Financed 12/17/2020
FINANCED
First Bank Provides $9M Loan For Industrial Property In Berkeley Heights
100 Industrial Road, Berkeley Heights, NJ, USA
See Similar DealsIndustrial77,875 SF
Financed 12/17/2020
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$115
Total Square Footage:77,875 SF
Transaction Type:Loan
The industrial property located at 100 Industrial Road in Berkeley Heights has recently closed a loan transaction. The property spans a total of 77,875 square feet and is owned by Camber Real Estate Partners.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $9,000,000
- Lender: First Bank
- Brokers: Greg Nalbandian & Michael Lachs - JLL Capital Markets
- Loan Terms: 5-year fixed-rate loan
The loan amount for this transaction is $9,000,000, and it was provided by First Bank. Greg Nalbandian and Michael Lachs from JLL Capital Markets represented the parties involved in the deal. The loan has a fixed-rate and a term of 5 years.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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