Lakeland Bank Provides $3.4M Refinance Loan For Millburn Ave. & Route 36 Retail Property
FINANCED
$3,400,000
New Jersey
See Similar DealsRetail
Financed 03/10/2021
FINANCED
Lakeland Bank Provides $3.4M Refinance Loan For Millburn Ave. & Route 36 Retail Property
279 Millburn Ave, Millburn, NJ, USA
See Similar DealsRetail
Financed 03/10/2021
Summary
NEW JERSEY
Asset Type:Retail
Transaction Type:Loan
The property involved in this closed transaction is a retail asset located at 279 Millburn Ave. in Millburn and 135 Route 36 in West Long Branch. The transaction type is a refinance loan.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,400,000
- Address: 279 Millburn Ave. & 135 Route 36
- Market: Millburn & West Long Branch
The lender for this transaction is Lakeland Bank. The landlord is Roy Pascal from Commerce Park Investors. The brokers involved in this deal are Kathy Anderson from Progress Capital and Caillin Boles from Progress Capital.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,400,000.00
Monthly NOI$22,666.67
Monthly Debt Service$21,490.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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