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Industrial Acquisition Loan Secured For Cherry Hill & Blackwood Properties At $40M

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FINANCED
$40,000,000
Michael Ianno
Keith Kurland
+ 3

New Jersey

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Industrial744,000 SF
Financed 06/28/2024
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FINANCED

Industrial Acquisition Loan Secured For Cherry Hill & Blackwood Properties At $40M

1951 Old Cuthbert Road & 1001 Lower Landing Road

See Similar Deals
Industrial744,000 SF
Financed 06/28/2024
Michael Ianno
Keith Kurland
+ 3
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$53
Total Square Footage:744,000 SF
Transaction Type:Loan

The Cherry Hill Commerce Center at 1951 Old Cuthbert Road and The Village of Pine Run at 1001 Lower Landing Road, located in Cherry Hill and Blackwood, are industrial properties with a total square footage of 372,000. The properties are owned by Dov Hertz, Aaron Malitzky, and Ariel Tambor under DHPH, with a recent acquisition loan of $40,000,000 secured by Adam Gibbons from GID.

Summary of transation details:

The key individuals and companies involved in the transaction include Adam Gibbons from GID as the lender, and the property owners represented by the brokers Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Michael Ianno, and Stanley Cayre from Walker & Dunlop who facilitated the acquisition loan deal.

Players

Aaron Appel
192 deals$32.1B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
167 deals$27.1B volume
BROKER

Keith Kurland
Walker & Dunlop
172 deals$29.3B volume
BROKER

Adam Schwartz
Walker & Dunlop
162 deals$25.6B volume(646) 491-8869
BROKER

Michael Ianno
Walker & Dunlop
51 deals$6B volume
BROKER

Stanley Cayre
Walker & Dunlop
11 deals$2B volume(917) 613-8038
BROKER

GID Credit
LENDER

Details

FINANCED
IMAGE: Dov Hertz, Aaron Malitzky, Ariel Tambor, Adam Gibbons, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno, & Stanley Cayre DATE: 06/28/2024 ADDRESS: The Cherry Hill Commerce Center - 1951 Old Cuthbert Road & The Village of Pine Run - 1001 Lower Landing Road MARKET: Cherry Hill & Blackwood ASSET TYPE: Industrial ~ SF: 372,000 LENDER: Adam Gibbons - GID LANDLORD: Dov Hertz, Aaron Malitzky & Ariel Tambor - DHPH BROKERS: Aaron Appel, Jonathan Schwartz (@Jschwa1386), Adam Schwartz (@adamschwartz88), Keith Kurland (@kakurland), Michael Ianno (@mianno20) & Stanley Cayre - Walker & Dunlop LOAN AMOUNT: $40,000,000 LOAN TYPE: Acquisition Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$40,000,000.00

Monthly NOI$266,666.67
Monthly Debt Service$252,827.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00