Columbia Bank Provides $6.5M Refinance Loan For Educational Facility In Wayne, NJ
FINANCED
$6,500,000
New Jersey
See Similar DealsOther168,050 SF
Financed 06/05/2023
FINANCED
Columbia Bank Provides $6.5M Refinance Loan For Educational Facility In Wayne, NJ
164 Totowa Rd Wayne, NJ 07470, USA
See Similar DealsOther168,050 SF
Financed 06/05/2023
Summary
NEW JERSEY
Asset Type:Other
Price Per Square Foot:$38
Total Square Footage:168,050 SF
Transaction Type:Loan
An educational facility located at 164 Totowa Road in Wayne, NJ has recently undergone a refinancing transaction. The property spans a total of 168,050 square feet, providing ample space for educational purposes.
Summary of transaction details:
- Property Type: Educational Facility
- Transaction Amount: $6,500,000
- Address: 164 Totowa Road, Wayne, NJ
- Market: Wayne, NJ
The lender in this refinancing deal is Columbia Bank. Serving as the broker representative for this transaction is Gabby Cali from Progress Capital. The loan provided for the refinancing transaction amounts to $6,500,000. It is a non-recourse loan, with a 6% fixed interest rate for 5 years. The loan term extends for a total of 10 years.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,500,000.00
Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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