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

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FINANCED
$9,700,000

Pennsylvania

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Industrial218,961 SF
Financed 09/08/2021
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FINANCED

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

20 Jackson Street, Philadelphia, PA, USA

See Similar Deals
Industrial218,961 SF
Financed 09/08/2021
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Summary

PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$44
Total Square Footage:218,961 SF
Transaction Type:Loan

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
5 deals$52.4M volume
BROKER

Penn Community Bank
LENDER

Details

FINANCED
IMAGE: Marc Tropp DATE: 09/08/2021 ADDRESS: 20 Jackson Street, 38 Jackson Street & 21 Wolf Street MARKET: Philadelphia, PA ASSET TYPE: Office & Industrial ~ SF: 218,961 LANDLORD: Michael Bauer - BASH Capital; Joseph Cunane BROKER: Marc Tropp - Eastern Union LOAN AMOUNT: $9,700,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,700,000.00

Monthly NOI$64,666.67
Monthly Debt Service$61,310.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00