Eastern Union Arranges $9.7M Loan For Office And Industrial Properties In Philadelphia, PA
20 Jackson Street, Philadelphia, PA, USA
$9,700,000
$44/SF
Building Size
218,961 SF
Asset Type
Industrial
Closing
Sep 8, 2021
AI
20 Jackson Street, 38 Jackson Street, and 21 Wolf Street, located in Philadelphia, PA, were recently involved in a closed loan transaction. The properties have a combined total of 218,961 square feet and comprise both office and industrial spaces. The loan amount for this transaction was $9,700,000.
Summary of transaction details
- Property Type: Office & Industrial
- Transaction Amount: $9,700,000
- Address: 20 Jackson Street, 38 Jackson Street, 21 Wolf Street, Philadelphia, PA
- Market: Philadelphia, PA
- Landlord: Michael Bauer - BASH Capital; Joseph Cunane
- Broker: Marc Tropp - Eastern Union
The key individuals involved in this transaction were Michael Bauer of BASH Capital and Joseph Cunane as the landlords. The broker representing the deal was Marc Tropp from Eastern Union.
Players
Philadelphia 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
1.64%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93