Updated Mar 17, 2025
J.P. Morgan Global Alternatives Secures $45M Refinance Loan For Arcadia North Industrial Property
2077 Corporate Ctr Dr W Tobyhanna, PA 18466, USA
$45,000,000
$42/SF
Building Size
1,050,701 SF
Asset Type
Industrial
Closing
May 23, 2023
About this deal
AI
Arcadia North, a fully occupied industrial property located at 2077 Corporate Center Drive West in Tobyhanna, Pennsylvania, has secured a $45 million loan for refinancing. Spanning across 1,050,701 square feet, this industrial asset has successfully completed a loan transaction with the support of Northwestern Mutual Life Insurance Co. through Cushman & Wakefield.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $45,000,000
- Market: Tobyhanna, Pennsylvania
- Loan Type: Refinance
- Loan Terms: Floating rate
Gerry Blinebury, Brendan McGeary, Gary Gabriel, Kyle Schmidt, Steve Kohn, John Alascio, Alex Hernandez, Aaron Graves, TJ Sullivan, and Jason Blankfein from Cushman & Wakefield played a crucial role as brokers in facilitating the loan transaction for Arcadia North. Acting on behalf of the landlord, J.P. Morgan Global Alternatives, they successfully secured the refinancing deal with Northwestern Mutual Life Insurance Co.
On the Map
$45,000,000
$42/SF
Industrial
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Players
Tobyhanna Township 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93