Morris Dweck Of KSR Secures $34M Refinance Loan For Red Bank Office

The new Red Bank Animal Hospital located at 100 Schultz Drive in Red Bank, NJ, is an office asset that recently underwent a refinancing deal. The loan secured for this property amounted to $34,000,000 with terms of 65% LTV, a 7/30 structure, 2 years interest-only, and an interest rate of 6.42%.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $34,000,000
• Landlord: Crown Acquisitions & Paramount Realty
• Broker: Morris Dweck - KSR
• Loan Type: Refinance
• Loan Terms: 65% LTV, 7/30, 2 years IO, 6.42%

Morris Dweck of KSR Capital played a significant role as the broker in securing the $34,000,000 loan for the Red Bank Animal Hospital owned by Crown Acquisitions & Paramount Realty. The property's ownership has executed a 20-year NNN lease agreement with National Veterinary Associates, leading to the entire building being occupied by them, marking it as one of the largest veterinary facilities in the country.