Ion Bank Provides $5.75M Refinance Loan For Industrial Property In Ocean Township, NJ
FINANCED
$5,750,000
New Jersey
See Similar DealsIndustrial19,432 SF
Financed 12/21/2023
FINANCED
Ion Bank Provides $5.75M Refinance Loan For Industrial Property In Ocean Township, NJ
909 Kings Highway
See Similar DealsIndustrial19,432 SF
Financed 12/21/2023
Summary
NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$295
Total Square Footage:19,432 SF
Transaction Type:Loan
The industrial property located at 909 Route 35 in Ocean Township, NJ has undergone a refinancing transaction. The property spans over an area of 19,432 square feet.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,750,000
- Lender: Ion Bank
- Landlord: Frances Rediker
- Brokers: Steven Sperandio, Michael Fasano & Jake Weiss - Ripco
- Loan Type: Refinance
The refinancing deal was facilitated by Steven Sperandio, Michael Fasano, and Jake Weiss from Ripco. Their expertise in the industry played a crucial role in successfully completing the transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,750,000.00
Monthly NOI$38,333.33
Monthly Debt Service$36,343.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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