OceanFirst Bank N.A. Provides $20M Refinance Loan For Industrial Property In Ridgewood
FINANCED
$20,000,000
New York
See Similar DealsIndustrial
Financed 04/14/2022
FINANCED
OceanFirst Bank N.A. Provides $20M Refinance Loan For Industrial Property In Ridgewood
Ridgewood, New York, United States
See Similar DealsIndustrial
Financed 04/14/2022
Summary
NEW YORK
Asset Type:Industrial
Transaction Type:Loan
David R. Lachtman & David Hayum recently closed a refinancing deal in Ridgewood's industrial market. The loan transaction was facilitated by OceanFirst Bank N.A., with a loan amount of $20,000,000. The legal counsel for the deal was Lachtman Cohen P.C., represented by David R. Lachtman.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $20,000,000
David Hayum, from Meridian Capital Group, acted as the broker in this transaction. This successful refinancing deal showcases the expertise and collaboration of the individuals and companies involved, ensuring a smooth process for all parties.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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