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481 Edward H Ross Drive, El...

Alfred Sanzari Enterprises Inc. Refinancing Loan In Elmwood Park Industrial For $12.2M
FINANCEDIndustrial

Alfred Sanzari Enterprises Inc. Refinancing Loan In Elmwood Park Industrial For $12.2M

481 Edward H Ross Drive, Elmwood Park, New Jersey 07407, United States

$12,200,000

$107,964/SF

Building Size

113 SF

Asset Type

Industrial

Closing

Apr 17, 2023

AI

A loan transaction has taken place for an industrial property located at 481 & 491 Edward H. Ross Drive in Elmwood Park. The property spans approximately 113,700 square feet and is owned by Alfred Sanzari Enterprises Inc.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $12,200,000
  • Loan Type: Refinancing Loan
  • Loan Terms: 10-year, fixed-rate
  • Lender: Minnesota Life Insurance Co

JLL Capital Markets represented the borrower in this transaction. The team involved in the deal includes Thomas R. Didio, Thomas E. Didio Jr., Salvatore Buzzerio, and Benjamin Morgenthal.

Players

Thomas E. Didio, Jr

JLL

Broker

$2.9B

vol

43 deals

Broker
Alfred Sanzari Enterprises
Alfred Sanzari EnterprisesBrokerage
Alfred Sanzari

Alfred Sanzari

Alfred Sanzari Enterprises

Landlord

$12.2M

vol

19 deals

Landlord

Elmwood Park 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

1.30%

Cash-on-Cash

-0.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93