Marcus & Millichap Capital Corporation Arranges $7.95M Loan For LA Fitness Acquisition In Linden

The property involved in this transaction is a 41,000-square-foot retail asset located at 950 West Edgar Road, Linden, NJ. The property is associated with an acquisition loan amounting to $7,950,000.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,950,000
• Loan Type: Acquisition
• Loan Terms: 5-year non-recourse loan with full-term interest-only
• Interest Rate: 7.73%
• Loan-to-Value Ratio: 56%

The brokers representing this transaction are Christopher Marks and Stephen Filippo from Marcus & Millichap Capital Corporation, who arranged the financing for the acquisition of the property.