First Bank Provides $9M Loan For Industrial Property In Berkeley Heights
100 Industrial Road, Berkeley Heights, NJ, USA
$9,000,000
$115/SF
Building Size
77,875 SF
Asset Type
Industrial
Closing
Dec 16, 2020
AI
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
Berkeley Heights 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93