Progress Capital Arranges $14M Refinance Loan For Industrial Property In South Plainfield, NJ
FINANCED
$14,000,000
New Jersey
See Similar DealsIndustrial245,860 SF
Financed 03/28/2022
FINANCED
Progress Capital Arranges $14M Refinance Loan For Industrial Property In South Plainfield, NJ
450 Oak Tree Road, South Plainfield, New Jersey 07080, United States
See Similar DealsIndustrial245,860 SF
Financed 03/28/2022
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$56
Total Square Footage:245,860 SF
Transaction Type:Loan
An industrial property located at 450 Oak Tree Avenue in South Plainfield, NJ has undergone a refinance transaction. The property spans 245,860 square feet and is of the industrial asset type.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $14,000,000
- Loan Type: Refinance
- Market: South Plainfield, NJ
- Lender: Lakeland Bank
- Brokers: Brad Domenico & Frank Stanislaski - Progress Capital
The refinance loan for this industrial property was facilitated by Lakeland Bank. Brad Domenico and Frank Stanislaski from Progress Capital represented the parties involved in the transaction.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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