facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Industrial

/

Loan

/

909 Kings Highway

Ion Bank Provides $5.75M Refinance Loan For Industrial Property In Ocean Township, NJ
FINANCEDIndustrial

Ion Bank Provides $5.75M Refinance Loan For Industrial Property In Ocean Township, NJ

909 Kings Highway

$5,750,000

$295/SF

Building Size

19,432 SF

Asset Type

Industrial

Closing

Dec 21, 2023

AI

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

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

Steven Sperandio

Cushman & Wakefield

Broker

$773.9M

vol

21 deals

Broker
Ion Bank
Ion BankLender

Asbury Park Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.76%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93