Newland Capital Group Secures $66M Construction Loan For Mount Pocono Commerce Center In PA
3379 Pocono Summit Road
$66,000,000
$55/SF
Building Size
1,200,000 SF
Asset Type
Industrial
Closing
Aug 16, 2023
AI
Newland Capital Group has secured financing for the construction of Mount Pocono Commerce Center, a 1.2 million-square-foot distribution center in Mount Pocono, PA. The industrial property, located at 3379 Pocono Summit Road, is set to become a prominent addition to the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $66,000,000
- Address: 3379 Pocono Summit Road, Mount Pocono, PA
- Market: Mount Pocono, PA
- Lender: Axos Bank
- Landlord: Newland Capital Group
- Brokers: Chad Morgan & David Pelaia - JLL
JLL Capital Markets, represented by Chad Morgan and David Pelaia, facilitated the financing for the project through a $66 million senior construction loan provided by Axos Bank. This significant loan highlights the investor confidence in the potential of the Mount Pocono Commerce Center.
Players
Mount Pocono 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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93