BEB Lending Provides $13.5M Bridge Loan For Meadowlands Industrial Property
433 Bergen Ave, Kearny, NJ, USA
$13,500,000
$195/SF
Building Size
69,074 SF
Asset Type
Industrial
Closing
Aug 3, 2021
AI
A $13.5 million bridge loan was provided by BEB Lending to finance a 72,418 square foot industrial property located at 433 Bergen Ave in the Meadowlands market. The property is situated on 10.85 acres and is classified as an industrial asset.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $13,500,000
- Address: 433 Bergen Ave
- Market: Meadowlands
The lending for this transaction was facilitated by Lee Brodsky, Keyvan Ghaytanchi, and Sean Silverbrook from BEB Lending. Tom Ravert and Glenn Thomas from Pathway Capital served as the brokers in the deal.
Note that BEB Lending structured this transaction, allowing the borrower to obtain the necessary financing for the property. For more information about the lending platform, please visit https://lnkd.in/dPd9fW4 or email [email protected].
Players
Kearny 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93