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Convergent Energy & Power Lands $17.3 Million Loan From MUFG For Brooklyn Battery Storage System
FINANCED
$17,300,000
New York
See Similar DealsIndustrial
Financed
FINANCED
Convergent Energy & Power Lands $17.3 Million Loan From MUFG For Brooklyn Battery Storage System
1017 East 48th Street
See Similar DealsIndustrial
Financed
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Loan
The asset involved in the transaction is an industrial property located at 1017 East 48th Street in East Flatbush, Brooklyn. The asset encompasses a total square footage of 92,000. The loan amount secured for this property is $17,300,000.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $17,300,000
- Address: 1017 East 48th Street
- Market: East Flatbush, Brooklyn
- Lender: MUFG
- Landlord: Johannes Rittershausen - Convergent Energy & Power
Convergent Energy and Power, through Bensonhurst Energy Storage 1 LLC, is the entity that secured the loan from MUFG Bank specifically for a battery energy storage system at the property mentioned.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,300,000.00
Monthly NOI$115,333.33
Monthly Debt Service$109,347.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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