Updated Oct 29, 2024
TD Bank Provides $3.75M Loan For Industrial Property At 152 Glen Road In Mountainside
152 Glen Road, Mountainside, NJ, USA
$3,750,000
$26/SF
Building Size
143,500 SF
Asset Type
Industrial
Closing
Feb 23, 2021
About this deal
AI
The industrial property located at 152 Glen Road in Mountainside has recently undergone a loan refinancing transaction. The loan, facilitated by TD Bank, amounted to $3,750,000. The terms of the loan include a fixed interest rate of 3.25% for a duration of 10 years, with a 25-year amortization period.
Summary of transaction details:
- Property Type: Industrial
- Loan Amount: $3,750,000
- Loan Terms: Refinance, 3.25% Fixed for 10 Years, 25-Year Amortization
- Lender: TD Bank
- Brokers: Kathy Anderson (Money Girl Kathy) and Caillin Boles (cboles21) - Progress Capital
Representing the involved parties in this transaction, Kathy Anderson from Progress Capital and Caillin Boles from Progress Capital acted as brokers. Their expertise helped facilitate the loan refinancing process, ensuring the successful conclusion of the deal.
Players
Mountainside 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
4.23%
Cash-on-Cash
-1.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93