Paradigm Commercial Real Estate Arranges $6M Refinance Loan For 73K SF Industrial Property In Clifton, NJ
FINANCED
$6,000,000
New Jersey
See Similar DealsIndustrial73,000 SF
Financed 10/19/2021
FINANCED
Paradigm Commercial Real Estate Arranges $6M Refinance Loan For 73K SF Industrial Property In Clifton, NJ
40 Isabella Street, Clifton, NJ 07012
See Similar DealsIndustrial73,000 SF
Financed 10/19/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$82
Total Square Footage:73,000 SF
Transaction Type:Loan
Located at 40 Isabella St in Clifton, NJ, this industrial property spans approximately 73,000 square feet. The transaction took place on 10/19/2021 and involved a refinance loan.
Summary of Transaction Details
- Property Type: Industrial
- Transaction Amount: $6,000,000
- Loan Type: Refinance
- Loan Amount: $6,000,000
- Loan Terms: 65% LTV, $3.5mm Cash-out, 3% Rate, 5yr Fixed
The loan was secured with a 65% loan-to-value ratio and included a cash-out amount of $3.5 million. The loan terms offered a fixed rate of 3% for a period of 5 years.
Paradigm Commercial Real Estate represented all parties involved in the transaction, including Adrian Edery, Michael Ryback, and Ben Krupp.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,000,000.00
Monthly NOI$40,000.00
Monthly Debt Service$37,924.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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