Updated Sep 9, 2024
Progress Capital Facilitates $6.4M Industrial Acquisition Loan In Piscataway, NJ
250 Circle Drive North
$6,400,000
$107/SF
Building Size
59,572 SF
Asset Type
Industrial
Closing
Mar 15, 2021
About this deal
AI
A recent closed property transaction took place in Piscataway, NJ involving an industrial asset located at 250 Circle Drive. The acquisition of this property was financed through a loan.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,400,000
- Loan Type: Acquisition
- Loan Terms: 2.95% Fixed for 7 Years
Mark Serure acted as the landlord in this transaction. The brokers representing the parties involved were Kathy Anderson from Money.Girl.Kathy and Caillin Boles from Cboles21, both affiliated with Progress Capital.
The loan amount for this acquisition was $6,400,000, and the terms of the loan included a fixed interest rate of 2.95% for a period of 7 years.
Players
Piscataway 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
2.48%
Cash-on-Cash
-0.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93