Columbia Bank Provides $2.9M Acquisition Loan For Ocean Industrial Property | 1703 Valley Road | Columbia Bank | Abe Mann | Industrial | Loan

Summary

Loan

NEW JERSEY

Industrial

18,000 sqft

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

All
3

Agents
1
Agencies
1
Lenders
1

Abe Mann

Commercial Mortgage Broker

$14.8M Sold

Mann Capital Advisors

Columbia Bank

Details

Deal Summary

FINANCED

IMAGE: Abe Mann DATE: 05/17/2023 ADDRESS: 1703 Valley Road MARKET: Ocean ASSET TYPE: Industrial ~ SF: 18,000 LENDER: Columbia Bank LANDLORD: Adam Greenfield & Elan Rofe BROKER: Abe Mann - Mann Capital LOAN AMOUNT: $2,925,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 75% LTV, 10 year term, 30 year amortization

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Address1703 Valley Road

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