Eric Murchison Provides $1.3M Acquisition Loan For Industrial Property In Gilbertsville, PA

The industrial property located at 2225 Big Road in Gilbertsville, PA has been involved in a recent loan transaction. The property spans a total square footage of 14,600.0 and is part of the industrial asset type.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $1,300,000
• Date: 07/17/2023
• Address: 2225 Big Road, Gilbertsville, PA
• Lender: Eric Murchison
• Loan Type: Acquisition
• Loan Terms: 0.50% origination, 6.60% 5yr fixed/25yr amortization, no prepayment penalty
• Landlord: Joseph Ward - J Ward Real Estate LLC

In this loan transaction, Eric Murchison, the Senior Business Banking Relationship Manager at Citadel Credit Union's Business Banking Division, provided a loan amount of $1,300,000 for the acquisition of the industrial property. Eric Murchison specializes in loans up to $25,000,000 and offers premium deposit solutions, cash management services, and tailored lending options for businesses in Greater Philadelphia. The loan terms include a 0.50% origination fee and a fixed interest rate of 6.60% for a 5-year period with a 25-year amortization schedule. Notably, there are no prepayment penalties associated with this loan.