Updated Oct 29, 2024
First Citizens Bank Provides $40M Acquisition Loan For Industrial Property In Bordentown
201 Elizabeth Street, Bordentown, New Jersey 08505, United States
$40,000,000
$145,985/SF
Building Size
274 SF
Asset Type
Industrial
Closing
Nov 30, 2022
About this deal
AI
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
Bordentown 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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93