Thorofare Capital Provides $26.5M Bridge Loan For Industrial Property In Bogota, NJ
24 River Rd Bogota, NJ 07603, USA
$26,584,000
$120/SF
Building Size
220,000 SF
Asset Type
Industrial
Closing
Jun 29, 2023
AI
An industrial property located at 24 River Road in Bogota, NJ has been involved in a recent loan transaction. The property spans over 220,000 square feet and falls under the asset type of Industrial.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $26,584,000
- Address: 24 River Road
- Market: Bogota, NJ
Thorofare Capital, represented by David Perlman, provided the loan for this transaction. The loan amount secured for the deal was $26,584,000, and it was classified as a Bridge loan type. The landlord of the property is Thor Equities, represented by Joe Sitt and Alec Ludwig.
Players
New Jersey 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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93