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Capital One Provides $14M Refinance Loan For Industrial Property In Lincoln Park, NJ

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FINANCED
$14,000,000

New Jersey

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Industrial148,000 SF
Financed 01/03/2022
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FINANCED

Capital One Provides $14M Refinance Loan For Industrial Property In Lincoln Park, NJ

510 Ryerson Road, Lincoln Park, New Jersey 07035, United States

See Similar Deals
Industrial148,000 SF
Financed 01/03/2022
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$94
Total Square Footage:148,000 SF
Transaction Type:Loan

Located at 510 Ryerson Rd in Lincoln Park, NJ, this industrial property spans 148,000 square feet. The transaction, which took place on January 3, 2022, involved a loan of $14,000,000 for refinancing purposes. The lender, Capital One, was represented by Katie Kennedy, while the landlord, The STRO Companies, was represented by Jack Shulman.

Summary of transaction details

It is important to note that The STRO Companies, represented by Jack Shulman, is actively seeking warehouse-distribution properties in North NJ, Charlotte NC, Raleigh-Durham NC, Jacksonville FL, and South FL (Miami/Palm Beach). They are interested in all-cash transactions with quick due diligence and closing. Opportunities can be sent to [email protected].

Players

Jack Shulman
The Stro Companies
Jack Shulman
12 deals$199.2M volume
BROKER
Capital One
Capital One
LENDER
Jack Shulman
The Stro Companies
Jack Shulman
12 deals$199.2M volume
LANDLORD

Details

FINANCED
IMAGE: Jack Shulman & Katie Kennedy DATE: 01/03/2022 ADDRESS: 510 Ryerson Rd MARKET: Lincoln Park, NJ ASSET TYPE: Industrial ~ SF: 148,000 LENDER: Capital One - Katie Kennedy (@KKalbanese) LANDLORD: The STRO Companies - Jack Shulman (@JackShulman) LOAN AMOUNT: $14,000,000 LOAN TYPE: Refinance NOTE: STRO is actively looking to purchase warehouse-distribution properties in North NJ, Charlotte NC, Raleigh-Durham NC, Jacksonville FL, and South FL (Miami/Palm Beach). We can close all cash with quick DD/Closing. Please send opportunities to [email protected]

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Deal Type
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