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Meridian Capital Brokers Secure $6.9M Refinance Loan In Birdsboro, PA

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FINANCED
$6,900,000

Pennsylvania

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Industrial144,000 SF
Financed 02/21/2024
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FINANCED

Meridian Capital Brokers Secure $6.9M Refinance Loan In Birdsboro, PA

700 West 1st Street

See Similar Deals
Industrial144,000 SF
Financed 02/21/2024
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Summary

PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$47
Total Square Footage:144,000 SF
Transaction Type:Loan

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

Israel Leiner
10 deals$196M volume(201) 366-8041
BROKER

Michael Hess
Meridian Capital Group
5 deals$23.8M volume(646) 448-1011
BROKER

Orrstown Bank
LENDER

Details

FINANCED
IMAGE: Israel Leiner & Michael Hess DATE: 02/21/2024 ADDRESS: 700 West 1st Street MARKET: Birdsboro, PA ASSET TYPE: Industrial ~ SF: 144,000 LENDER: Orrstown Bank BROKERS: Israel Leiner & Michael Hess - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $6,900,000 LOAN TYPE: Refinance LOAN TERMS: 6.9% Fixed 5 Year Term

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,900,000.00

Monthly NOI$46,000.00
Monthly Debt Service$43,612.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00