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G.S. Wilcox Arranges $11M Refinance Loan For Industrial Property In Elizabeth
FINANCED
$11,000,000
New Jersey
See Similar DealsIndustrial223,000 SF
Financed 06/25/2024
FINANCED
G.S. Wilcox Arranges $11M Refinance Loan For Industrial Property In Elizabeth
750 Dowd Avenue
See Similar DealsIndustrial223,000 SF
Financed 06/25/2024
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$49
Total Square Footage:223,000 SF
Transaction Type:Loan
An industrial property spanning 223,000 square feet located at 750 Dowd Avenue in Elizabeth, Northern New Jersey was involved in a recent refinancing deal. The loan amount for this property was $11,000,000. The loan, which was secured by G.S. Wilcox & Co., features a 10-year term and a 25-year amortization schedule. The borrower of this loan is Elberon Development Group.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,000,000
- Address: 750 Dowd Avenue
- Market: Elizabeth
- Landlord: Dave Gibbons - Elberon Development Group
- Brokers: Albert Raymond & Wesley Wilcox - G.S. Wilcox
The $11 million loan to refinance the industrial property was arranged by Wesley Wilcox and Albert Raymond. The loan was sourced through a correspondent life insurance company.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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