Columbia Bank Provides $5.3M Refinance Loan For Industrial Property In East Hanover, NJ
FINANCED
$5,325,000
New Jersey
See Similar DealsIndustrial37,999 SF
Financed 09/19/2022
FINANCED
Columbia Bank Provides $5.3M Refinance Loan For Industrial Property In East Hanover, NJ
44 Deforest Avenue
See Similar DealsIndustrial37,999 SF
Financed 09/19/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$140
Total Square Footage:37,999 SF
Transaction Type:Loan
A loan of $5,325,000 was recently secured for the property located at 44 Deforest Ave in East Hanover, NJ. The property is an industrial asset with a size of 37,999 square feet. The loan was obtained from Columbia Bank to refinance the property.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,325,000
Kathy Anderson and Caillin Boles of Progress Capital represented the buyer as brokers in this deal. The landlord of the property is Commerce Park Investors, represented by Roy Pascal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,325,000.00
Monthly NOI$35,500.00
Monthly Debt Service$33,657.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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