Black Bear Capital Partners ("BBCP") is Please to Announces the Closing of a $1.248M Construction Loan in Seaside Heights
FINANCED
$1,248,000
New Jersey
See Similar DealsSingle Family Residence
Financed
FINANCED
Black Bear Capital Partners ("BBCP") is Please to Announces the Closing of a $1.248M Construction Loan in Seaside Heights
1505 West Central Avenue
See Similar DealsSingle Family Residence
Financed
Summary
NEW JERSEY
Asset Type:Single Family Residence
Transaction Type:Loan
A construction loan has been secured for a single-family development located at 1505 Central Avenue in Seaside Heights, NJ 08751. The loan amount totals $1,248,000 and is structured with a 6-month term that is interest-only, with financing set at 90% loan-to-cost.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $1,248,000
- Loan Type: Construction
- Loan Terms: 6-month interest-only, 90% LTC
- Market: Seaside Heights
- Capital Markets Advisor: Emil DePasquale - Black Bear Capital Partners (BBCP)
The transaction involves Emil DePasquale from Black Bear Capital Partners (BBCP) facilitating the loan process for the development, ensuring the successful closing of financial support for the project.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,248,000.00
Monthly NOI$8,320.00
Monthly Debt Service$7,888.21
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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