Updated Feb 16, 2024
JLJ Capital Provides $3.6M Construction Loan For Multifamily Property On Tilton Road, Egg Harbor
2580 Tilton Road, Egg Harbor, NJ, USA
$3,600,000
$17/SF
Building Size
210,395 SF
Asset Type
MultiFamily
Closing
Aug 30, 2021
About this deal
AI
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.
Players
Egg Harbor Township MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93