Updated Oct 28, 2024
Progress Capital Arranges $1.3M Refinance Loan For Retail Property In Glassboro, NJ
1100 North Delsea Drive, Glassboro, NJ, USA
$1,300,000
$23/SF
Building Size
55,004 SF
Asset Type
Retail
Closing
Aug 20, 2021
About this deal
AI
The retail property located at 1100 N. Delsea Drive in Glassboro, NJ was recently involved in a loan transaction. The loan, valued at $1,300,000, was obtained for the purpose of refinancing. The property spans across 55,004 square feet.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $1,300,000
- Date: 08/20/2021
- Address: 1100 N. Delsea Drive
- Market: Glassboro, NJ
The lender involved in this transaction was Truist Bank. The landlord of the property is Amol Kohli, representing AARK Enterprises Inc. The loan transaction was facilitated by Brian Anderson & Eddie Miro from Progress Capital.
Players
Clayton Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93