First Citizens Bank Provides $40M Acquisition Loan For Industrial Property In Bordentown
FINANCED
$40,000,000
New Jersey
See Similar DealsIndustrial274 SF
Financed 11/30/2022
FINANCED
First Citizens Bank Provides $40M Acquisition Loan For Industrial Property In Bordentown
201 Elizabeth Street, Bordentown, New Jersey 08505, United States
See Similar DealsIndustrial274 SF
Financed 11/30/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$145,985
Total Square Footage:274 SF
Transaction Type:Loan
The industrial property located at 201 Elizabeth St in Bordentown has recently undergone a closed transaction. Spanning across 33.9 acres, the property offers a total area of 274,197 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $40,000,000
- Address: 201 Elizabeth St
- Market: Bordentown
- Landlord: Penwood Real Estate Investment Management LLC
In this deal, First Citizens Bank provided an acquisition loan of $40,000,000 to support the transaction. The loan terms include a three-year, floating-rate loan. The brokers responsible for facilitating this transaction were Michael Klein, Max Custer, and Ryan Carroll from JLL Capital Markets.
Players
LENDER
Details
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Deal Type
30 years
10 years
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
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