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20 Jackson Street, Philadel...

Eastern Union Arranges $9.7M Loan For Office And Industrial Properties In Philadelphia, PA
FINANCEDIndustrial

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

Marc Tropp

Eastern Union

Broker

$52.4M

vol

5 deals

Broker
Penn Community Bank
Penn Community BankLender

Philadelphia Industrial Market Snapshot

Boundary boundary · Industrial · Loan transactions

Loading comparables…

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