MidCap Financial Provides $10.4M Loan For Industrial Property In Swedesboro, NJ
FINANCED
$10,400,000
New Jersey
See Similar DealsIndustrial207,500 SF
Financed 12/23/2020
FINANCED
MidCap Financial Provides $10.4M Loan For Industrial Property In Swedesboro, NJ
52 Locke Avenue, Swedesboro, NJ, USA
See Similar DealsIndustrial207,500 SF
Financed 12/23/2020
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$50
Total Square Footage:207,500 SF
Transaction Type:Loan
Ryan Horowitz of Cooper Horowitz brokered a loan transaction for an industrial property located at 52 Locke Avenue in Swedesboro, NJ. The loan, provided by MidCap Financial, was valued at $10,400,000. The property is owned by The O'Donnell Group.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,400,000
- Address: 52 Locke Avenue
- Market: Swedesboro, NJ
Ryan Horowitz of Cooper Horowitz served as the broker for the deal, representing the interests of the buyer, seller, landlord, or tenant. The O'Donnell Group acted as the landlord in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,400,000.00
Monthly NOI$69,333.33
Monthly Debt Service$65,735.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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