JLJ Capital Provides $3.6M Construction Loan For Multifamily Property On Tilton Road, Egg Harbor
FINANCED
$3,600,000
New Jersey
See Similar DealsMultiFamily210,395 SF
Financed 08/30/2021
FINANCED
JLJ Capital Provides $3.6M Construction Loan For Multifamily Property On Tilton Road, Egg Harbor
2580 Tilton Road, Egg Harbor, NJ, USA
See Similar DealsMultiFamily210,395 SF
Financed 08/30/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$17
Total Square Footage:210,395 SF
Transaction Type:Loan
A construction loan of $3,600,000 has been secured for a multifamily property located at 2580 Tilton Road in Egg Harbor, NJ. The loan was provided by JLJ Capital. The property spans across 210,395 square feet.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Address: 2580 Tilton Road
- Market: Egg Harbor, NJ
Mark Hadnett and Michael Banfield are the landlords of the property. The deal was facilitated by John Libretti, a representative from Progress Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,600,000.00
Monthly NOI$24,000.00
Monthly Debt Service$22,754.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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