Progress Realty Partners Acquires Industrial Property In Whippany, NJ For $5.5M Loan
FINANCED
$5,500,000
New Jersey
See Similar DealsIndustrial37,209 SF
Financed 09/28/2021
FINANCED
Progress Realty Partners Acquires Industrial Property In Whippany, NJ For $5.5M Loan
60 South Jefferson Road, Whippany, NJ, USA
See Similar DealsIndustrial37,209 SF
Financed 09/28/2021
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$147
Total Square Footage:37,209 SF
Transaction Type:Loan
The industrial property located at 60 South Jefferson Blvd. in Whippany, NJ has been acquired through a loan transaction. The property spans approximately 37,209 square feet and falls under the asset type of Industrial.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $5,500,000
- Lender: Columbia Bank
- Landlord: Adam Dickert & Dan Salonis - Progress Realty Partners
- Broker: Kathy Anderson - Progress Capital
The loan was facilitated by Columbia Bank for the acquisition of the property. The landlord representatives, Adam Dickert and Dan Salonis from Progress Realty Partners, played a crucial role in the deal. Kathy Anderson, representing Progress Capital, acted as the broker in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,500,000.00
Monthly NOI$36,666.67
Monthly Debt Service$34,763.74
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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