The Feldman Companies Secure $23M Bridge Loan For Industrial Property In Morrisville, PA | Extra Space Capital
FINANCED
$23,000,000
Pennsylvania
See Similar DealsIndustrial135,000 SF
Financed 04/27/2023
FINANCED
The Feldman Companies Secure $23M Bridge Loan For Industrial Property In Morrisville, PA | Extra Space Capital
957 Lincoln Highway
See Similar DealsIndustrial135,000 SF
Financed 04/27/2023
Summary
PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$170
Total Square Footage:135,000 SF
Transaction Type:Loan
The industrial property located at 957 Lincoln Highway in Morrisville, PA has been involved in a closed transaction. The property spans 135,000 square feet in size and is classified as an industrial asset.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $23,000,000
- Address: 957 Lincoln Highway, Morrisville, PA
- Market: Morrisville, PA
The lender in this transaction was Extra Space Capital, providing a bridge loan for the property. The landlord of the property is The Feldman Companies, represented by Mitchell Feldman and Jordan Feldman.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,000,000.00
Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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