Updated Oct 28, 2024
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
$3,300,000
$161/SF
Building Size
20,490 SF
Asset Type
Retail
Closing
Feb 10, 2022
About this deal
AI
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.
Players
Clementon 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93