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681 Main Street

Lincoln Equities Group Secures $53.5M Construction Loan For Belleville Logistics Facility
FINANCEDIndustrial

Lincoln Equities Group Secures $53.5M Construction Loan For Belleville Logistics Facility

681 Main Street

$53,500,000

Building Size

Asset Type

Industrial

Closing

Apr 4, 2024

AI

The Lincoln Equities Group secured a $53.5 million construction loan for the redevelopment of a 15-acre industrial site located at 681 Main Street in Belleville. The project involves transforming the site into a 204,407-square-foot warehouse, strategically positioned near major highways and the Port of New York and New Jersey.

Summary of transaction details:

Cushman & Wakefield's team, represented by Chuck Kohaut, Jason Blankfein, John Alascio, and TJ Sullivan, played a key role in facilitating the loan. The sponsor for the logistics facility's redevelopment has partnered with PCCP for the financing of this significant project.

Players

John Alascio

Cushman & Wakefield

Broker

$5.4B

vol

58 deals

Broker
Pacific Coast Capital Partners (PCCP)
Pacific Coast Capital Partners (PCCP)Lender

Belleville 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

0.30%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93