Updated Oct 25, 2024
Manasquan Bank Provides $3M Loan For Industrial Property In Roxbury
350 North Frontage Road
$3,000,000
$185/SF
Building Size
16,200 SF
Asset Type
Industrial
Closing
Dec 29, 2020
About this deal
AI
The industrial property located at 350 & 360 North Frontage Road in Roxbury has been involved in a recent loan transaction. The loan amount for this deal is $3,000,000. The lender for this transaction is Manasquan Bank, and the landlord is Roy Pascal. The property was represented by Kathy Anderson and Caillin Boles from Progress Capital.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $3,000,000
- Lender: Manasquan Bank
- Landlord: Roy Pascal
- Brokers: Kathy Anderson - Progress Capital
The involvement of Kathy Anderson and Caillin Boles from Progress Capital as brokers highlights their role in representing the property in this loan transaction. Their expertise in the market and their agency's reputation likely played a significant role in securing the loan amount. This transaction showcases the value and potential of the industrial property located in Roxbury.
Players
Landing 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93