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Marcus & Millichap Capital Corporation Arranges $7.95M Loan For LA Fitness Acquisition In Linden
FINANCED
$7,950,000
New Jersey
See Similar DealsRetail41,000 SF
Financed 10/10/2024
FINANCED
Marcus & Millichap Capital Corporation Arranges $7.95M Loan For LA Fitness Acquisition In Linden
950 West Edgar Road
See Similar DealsRetail41,000 SF
Financed 10/10/2024
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$193
Total Square Footage:41,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,950,000.00
Monthly NOI$53,000.00
Monthly Debt Service$50,249.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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