Updated Dec 4, 2024
G.S. Wilcox Arranges $11M Refinance Loan For Industrial Property In Elizabeth
750 Dowd Avenue
$11,000,000
$49/SF
Building Size
223,000 SF
Asset Type
Industrial
Closing
Jun 25, 2024
About this deal
AI
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.
On the Map
$11,000,000
$49/SF
Industrial
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Players
Elizabeth 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
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93