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Newland Capital Group Secures $66M Construction Loan For Mount Pocono Commerce Center In PA

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FINANCED
$66,000,000
Chad Morgan
David Pelaia

Pennsylvania

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Industrial1,200,000 SF
Financed 08/16/2023
the dealplayerscompscontact
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FINANCED

Newland Capital Group Secures $66M Construction Loan For Mount Pocono Commerce Center In PA

3379 Pocono Summit Road

See Similar Deals
Industrial1,200,000 SF
Financed 08/16/2023
Chad Morgan
David Pelaia
the dealplayerscompscontact
Contact now

Summary

PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$55
Total Square Footage:1,200,000 SF
Transaction Type:Loan

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

David Pelaia
JLL
David Pelaia
2 deals$107.5M volume
BROKER
Chad Morgan
JLL
Chad Morgan
13 deals$542.4M volume(949) 274-0018
BROKER
Axos Bank
Axos Bank
LENDER

Details

FINANCED
IMAGE: Chad Morgan & David Pelaia DATE: 08/16/2023 ADDRESS: 3379 Pocono Summit Road MARKET: Mount Pocono, PA ASSET TYPE: Industrial ~ SF: 1,200,000 LENDER: Axos Bank LANDLORD: Newland Capital Group BROKERS: Chad Morgan & David Pelaia - JLL LOAN AMOUNT: $66,000,000 LOAN TYPE: Construction NOTE: Newland Capital Group has secured financing for the construction of Mount Pocono Commerce Center, a 1.2 million-square-foot distribution center in Pennsylvania. JLL Capital Markets arranged a $66 million senior construction loan from Axos Bank.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$66,000,000.00

Monthly NOI$440,000.00
Monthly Debt Service$417,164.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00