Peoples Security Bank & Trust Provides $3.3M Refiance Loan For Retail Property In Clementon, NJ
FINANCED
$3,300,000
New Jersey
See Similar DealsRetail20,490 SF
Financed 02/11/2022
FINANCED
Peoples Security Bank & Trust Provides $3.3M Refiance Loan For Retail Property In Clementon, NJ
168 White Horse Pike, Clementon, New Jersey 08021, United States
See Similar DealsRetail20,490 SF
Financed 02/11/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$161
Total Square Footage:20,490 SF
Transaction Type:Loan
The retail property located at 168 White Horse Pike in Clementon, NJ has recently undergone a refinancing transaction. The property spans approximately 20,490 square feet and is situated in the market of Clementon, NJ.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $3,300,000
- Loan Type: Refinance Loan
- Lender: Peoples Security Bank & Trust
- Brokers: David May & Evan Boles - Progress Capital
- Date: 02/11/2022
- Image: David May & Evan Boles
The loan for the refinancing was provided by Peoples Security Bank & Trust. The brokers involved in the transaction were David May and Evan Boles from Progress Capital. The loan amount of $3,300,000 allowed the property owner to restructure their financing for the retail property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,300,000.00
Monthly NOI$22,000.00
Monthly Debt Service$20,858.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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