Updated Dec 21, 2023
Former Simkar Corp. Lighting Company Property In Philadelphia Sold For $5.5M
700 Ramona Ave, Philadelphia, PA 19120, USA
$5,500,000
$1/SF
Building Size
2,835,000 SF
Asset Type
Industrial
Closing
Apr 29, 2020
About this deal
AI
The former home of Simkar Corp., a lighting company that closed its doors in 2019, has been sold in a closed property transaction. The property, located at 700 Ramona Avenue in Feltonville-Juniata Park, Philadelphia, is an industrial asset with a total square footage of 283,500. The transaction involved a loan amount of $5,500,000 from BECapital.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $5,500,000
- Square Footage: 283,500
- Address: 700 Ramona Avenue, Feltonville-Juniata Park, Philadelphia
- Lender: BECapital
The deal did not provide information about the landlord or any additional details regarding the transaction participants. It is worth noting that the property was sold as part of a bankruptcy process, following the closure of Simkar Corp.
Players
Philadelphia 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93