Meridian Capital Brokers Secure $6.9M Refinance Loan In Birdsboro, PA
700 West 1st Street
$6,900,000
$47/SF
Building Size
144,000 SF
Asset Type
Industrial
Closing
Feb 21, 2024
AI
The industrial property located at 700 West 1st Street in Birdsboro, PA, spans 144,000 square feet. The loan for this property was refinanced for $6,900,000 with a fixed 6.9% interest rate for a 5-year term. The financing was provided by Orrstown Bank, with the transaction facilitated by Israel Leiner and Michael Hess from the Meridian Capital Group.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,900,000
- Address: 700 West 1st Street
- Market: Birdsboro, PA
- Loan Type: Refinance
- Loan Terms: 6.9% Fixed 5 Year Term
Israel Leiner and Michael Hess, representing Meridian Capital Group, played a crucial role as the brokers in securing the refinancing deal for the industrial property at 700 West 1st Street. The involvement of these real estate professionals highlights their expertise in navigating and finalizing significant loan transactions within the commercial real estate sector.
Players
Birdsboro 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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93