Updated Feb 5, 2025
Thorofare Capital Provides $28.5M Construction Loan For Freehold Industrial Property
500 Halls Mill Road, Freehold, New Jersey 07728, United States
$28,500,000
$137/SF
Building Size
206,881 SF
Asset Type
Industrial
Closing
Jul 13, 2022
About this deal
AI
A construction loan for the industrial property located at 500 Halls Mill Road in Freehold has been secured for $28,500,000. The property has a total size of 206,881 square feet, making it a significant asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $28,500,000
- Address: 500 Halls Mill Road
- Market: Freehold
- Lender: Thorofare Capital - David Perlman, Jacob Yi & Paul Hachigian
- Landlord: Treetop Companies - Azi Mandel & Adam Mermelstein
- Brokers: John Alascio, TJ Sullivan, Chuck Kohaut & Meredith Donovan - Cushman & Wakefield
Leading the financing for this project is Thorofare Capital, represented by David Perlman, Jacob Yi, and Paul Hachigian. Treetop Companies, with Azi Mandel and Adam Mermelstein at the helm, serves as the landlord for this property. Cushman & Wakefield, through brokers John Alascio, TJ Sullivan, Chuck Kohaut, and Meredith Donovan, facilitated the transaction.
On the Map
$28,500,000
$137/SF
Industrial
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Players
Freehold 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93