Updated Oct 28, 2024
Morgan Stanley Finances $44M Loan For Industrial Portfolio In Allendale, NJ
Allendale, New Jersey, United States
$44,000,000
$113/SF
Building Size
389,000 SF
Asset Type
Industrial
Closing
Aug 21, 2022
About this deal
AI
The industrial portfolio located in Allendale, NJ has recently undergone a loan transaction. Spanning over 389,000 square feet, this industrial property attracted the attention of various parties in the real estate market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $44,000,000
- Address: Industrial Portfolio, Allendale, NJ
- Market: Allendale, NJ
Morgan Stanley, a notable lender in the industry, provided a non-recourse loan for this transaction. The loan featured a 10-year fixed-rate with full-term interest-only payments. The loan-to-value (LTV) ratio was approximately 65%.
Representing the landlord, Allendale Corporate Center, LLC, was Emil DePasquale from Black Bear Capital Partners. Emil DePasquale played a pivotal role in facilitating this deal by representing the landlord's interests.
Players
Allendale 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93