Updated Oct 29, 2024
New Vernon Equities' Industrial Property In East Hanover Receives $15M Permanent Loan
30 Farinella Drive, East Hanover, New Jersey 07936, United States
$15,000,000
$200,000/SF
Building Size
75 SF
Asset Type
Industrial
Closing
Apr 17, 2023
About this deal
AI
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
East Hanover Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Deal FAQ
Visit Ryan Carroll to view all their deals.
Browse New Jersey industrial loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93