New Vernon Equities' Industrial Property In East Hanover Receives $15M Permanent Loan
FINANCED
$15,000,000
New Jersey
See Similar DealsIndustrial75 SF
FINANCED
New Vernon Equities' Industrial Property In East Hanover Receives $15M Permanent Loan
30 Farinella Drive, East Hanover, New Jersey 07936, United States
See Similar DealsIndustrial75 SF
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$200,000
Total Square Footage:75 SF
Transaction Type:Loan
A permanent loan of $15,000,000 has been secured for a industrial property located at 30 Farinella Drive in East Hanover. The property, with a total square footage of 75,500 and situated on 11.25 acres of land, has successfully obtained this long-term fixed-rate financing.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $15,000,000
- Address: 30 Farinella Drive
- Market: East Hanover
- Square Footage: 75,500
- Acres: 11.25
New Vernon Equities serves as the landlord for this transaction. The deal was facilitated by Matthew Pizzolato and Ryan Carroll from JLL Capital Markets who represented the buyer and seller in the negotiation process.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$15,000,000.00
Monthly NOI$100,000.00
Monthly Debt Service$94,810.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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