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Lincoln Equities Group Secures $60.8 Million Construction Loan From PCCP For Industrial Development In Hamilton

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FINANCED
$60,800,000
Jason Blankfein
TJ Sullivan
Chuck Kohaut
+ 1

New Jersey

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Industrial420,000 SF
Financed 07/17/2024
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Property Image
FINANCED

Lincoln Equities Group Secures $60.8 Million Construction Loan From PCCP For Industrial Development In Hamilton

861 Sloan Avenue

See Similar Deals
Industrial420,000 SF
Financed 07/17/2024
Jason Blankfein
TJ Sullivan
Chuck Kohaut
+ 1
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$144
Total Square Footage:420,000 SF
Transaction Type:Loan

An industrial property with a total area of 420,000 square feet is located at 861 Sloan Avenue in Hamilton, NJ. Lincoln Equities Group has secured a construction loan amounting to $60.8 million from PCCP to facilitate the development of this asset.

Summary of transaction details:

The financing was facilitated by Cushman & Wakefield, who highlighted the strategic advantages of the property's location in relation to major highways, the New Jersey Transit Hamilton Train Station, and key ports in Philadelphia and Newark-Elizabeth, indicating a strong demand for prime industrial assets in the region.

Players

John Alascio
Cushman & Wakefield
John Alascio
56 deals$5.3B volume
BROKER
Chuck Kohaut
Cushman & Wakefield
Chuck Kohaut
41 deals$3.3B volume
BROKER
TJ Sullivan
Cushman & Wakefield
TJ Sullivan
38 deals$3.1B volume
BROKER
Jason Blankfein
Cushman & Wakefield
Jason Blankfein
15 deals$771.1M volume
BROKER
Pacific Coast Capital Partners (PCCP)
Pacific Coast Capital Partners (PCCP)
LENDER

Details

FINANCED
IMAGE: Joel Bergstein, Chuck Kohaut, Jason Blankfein, John Alascio & TJ Sullivan DATE: 07/17/2024 ADDRESS: 861 Sloan Avenue MARKET: Hamilton ASSET TYPE: Industrial ~ SF: 420,000 LENDER: PCCP LANDLORD: Joel Bergstein - Lincoln Equities Group BROKERS: Chuck Kohaut, Jason Blankfein (@JasonBlankfein) , John Alascio & TJ Sullivan - Cushman & Wakefield (@CushWake) LOAN AMOUNT: $60,800,000 LOAN TYPE: Construction Loan NOTE: Lincoln Equities Group secured $60.8 million in construction financing from PCCP to develop a 420,000-square-foot industrial property at 861 Sloan Avenue in Hamilton, NJ. Cushman & Wakefield facilitated the financing, highlighting the site's strategic location near major highways, the New Jersey Transit Hamilton Train Station, and ports in Philadelphia and Newark-Elizabeth, underscoring strong demand for prime industrial assets in the region.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,800,000.00

Monthly NOI$405,333.33
Monthly Debt Service$384,297.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00