Columbia Bank Provides $2.9M Acquisition Loan For Ocean Industrial Property
FINANCED
$2,925,000
New Jersey
See Similar DealsIndustrial18,000 SF
Financed 05/17/2023
FINANCED
Columbia Bank Provides $2.9M Acquisition Loan For Ocean Industrial Property
1703 Valley Rd Ocean Township, NJ 07712, USA
See Similar DealsIndustrial18,000 SF
Financed 05/17/2023
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$162
Total Square Footage:18,000 SF
Transaction Type:Loan
An acquisition loan was recently provided by Columbia Bank for the purchase of an industrial property located at 1703 Valley Road in the Ocean market. The property spans an area of 18,000 square feet and is owned by Adam Greenfield & Elan Rofe.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $2,925,000
- Lender: Columbia Bank
- Landlord: Adam Greenfield & Elan Rofe
- Broker: Abe Mann - Mann Capital
The loan provided by Columbia Bank has a value of $2,925,000. It is structured as an acquisition loan and comes with the following terms: a loan-to-value (LTV) ratio of 75%, a 10-year term, and a 30-year amortization schedule.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,925,000.00
Monthly NOI$19,500.00
Monthly Debt Service$18,487.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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