Marcus & Millichap Capital Corporation Secures $3.47 Million Loan For School Acquisition In Moorestown

The property involved in this transaction is a single-tenant school located at 130 Borton Landing Road in Moorestown, NJ. The acquisition was financed through a loan amounting to $3,470,000, featuring a fixed interest rate of 6.2% over a 10-year term. The loan-to-value ratio stands at 64%, with a 30-year amortization period.

Summary of transaction details:

• Property Type: School
• Transaction Amount: $3,470,000
• Loan Type: Acquisition
• Loan Terms: 10-year loan with a 6.2% fixed interest rate
• Loan-to-Value Ratio: 64%
• Amortization: 30 years
• Broker: Josh Sciotto - Marcus & Millichap Capital Corporation

Josh Sciotto from Marcus & Millichap Capital Corporation represented the financing side of this acquisition, securing the loan specifically for the Chesterbrook Academy Preschool property. This transaction highlights the involvement of key financial institutions in supporting the acquisition of educational facilities.