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433 Bergen Ave, Kearny, NJ,...

BEB Lending Provides $13.5M Bridge Loan For Meadowlands Industrial Property
FINANCEDIndustrial

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

Thomas Ravert

Broker

$87M

vol

2 deals

Broker
Sean Silverbrook

Sean Silverbrook

BEB Lending

Lender

$71.9M

vol

15 deals

Lender
BEB Capital
BEB Capital Lender

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