Realterm Of Maryland Secures $118M Loan From JP Morgan For Queens Warehouse Development
154-33 Brookville Blvd Queens, NY 11422, USA
$118,000,000
Building Size
—
Asset Type
Industrial
Closing
Aug 7, 2023
AI
Realterm, a Maryland-based company, has secured a $95 million building loan and a $23 million project loan from JPMorgan for a new warehouse development near JFK International Airport in Queens. The loan amount totals $118,000,000.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $118,000,000
- Lender: JP Morgan
- Landlord: Realterm of Maryland - Ben Andreycak & David Rose
- Address: 154-68 Brookville Boulevard, Queens
The deal involved Realterm, a Maryland-based company, and JPMorgan as the lender. Realterm, represented by Ben Andreycak & David Rose, acted as the landlord for the new warehouse development near JFK International Airport.
Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93