Updated Oct 29, 2024
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
About this deal
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.
On the Map
$66,000,000
$55/SF
Industrial
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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