TriState Capital Provides $7M Loan For Retail Property At 1515 Route 35 In Middletown
FINANCED
$7,000,000
New Jersey
See Similar DealsRetail66,600 SF
Financed 12/14/2020
FINANCED
TriState Capital Provides $7M Loan For Retail Property At 1515 Route 35 In Middletown
1515 Route 35, Middletown Township, NJ, USA
See Similar DealsRetail66,600 SF
Financed 12/14/2020
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$105
Total Square Footage:66,600 SF
Transaction Type:Loan
Located at 1515 Route 35 in Middletown, this retail property recently underwent a closed transaction. The property spans an undisclosed amount of square footage and was sold for a loan amount of $7,000,000. The market value is not mentioned in the provided information.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,000,000
- Lender: TriState Capital
- Brokers: Kathy Anderson - Progress Capital
The loan for this retail property was provided by TriState Capital. The brokers involved in the deal were Kathy Anderson from Progress Capital, representing the parties in the transaction.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,000,000.00
Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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