Updated Feb 16, 2024
Provident Bank Provides $32.1M Loan For Industrial Property In Langhorne, Philadelphia
900 Wheeler Way, Langhorne, Pennsylvania 19047, United States
$32,110,000
$152/SF
Building Size
210,564 SF
Asset Type
Industrial
Closing
Aug 28, 2022
About this deal
AI
Located at 900 Wheeler Way in Langhorne, Philadelphia, this industrial property spans a total of 210,564 square feet. The transaction took place on August 29, 2022.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: $32,110,000
- Market: Langhorne, Philadelphia
The lender for this transaction was Provident Bank. The property is owned by Greek Development, represented by David Greek, Alex Motiuk, and Pat Ramirez, as well as Principal Real Estate Investors, represented by Rob Klinkner, Ben Sitzmann, and Kristine Soliday.
Players
Langhorne 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93