Valley Bank Provides $2.5M Loan For Galloway Retail Property
FINANCED
$2,500,000
New Jersey
See Similar DealsRetail1,390 SF
Financed 12/15/2020
FINANCED
Valley Bank Provides $2.5M Loan For Galloway Retail Property
275 West White Horse Pike, Galloway, Pomona, NJ, USA
See Similar DealsRetail1,390 SF
Financed 12/15/2020
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$1,798
Total Square Footage:1,390 SF
Transaction Type:Loan
The retail property located at 275 W. White Horse Pike in Galloway has recently secured a loan. The loan was provided by Valley Bank for an amount of $2,500,000. The loan terms include a 10-year term with a 25-year schedule and a fixed interest rate of 3.56%. The loan transaction took place on December 15, 2020.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $2,500,000
- Address: 275 W. White Horse Pike, Galloway
- Market: Galloway
- Lender: Valley Bank
- Landlord: SWG Realty
- Broker: Michael Volpe - HighCap Group
Michael Volpe from HighCap Group represented the landlord, SWG Realty, in this loan transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,500,000.00
Monthly NOI$16,666.67
Monthly Debt Service$15,801.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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