Mitchell Partners Group Secures $4.2M Construction Loan From AMBK For Industrial Asset In Allentown
FINANCED
$4,200,000
Pennsylvania
See Similar DealsIndustrial130,000 SF
Financed 01/29/2025
FINANCED
Mitchell Partners Group Secures $4.2M Construction Loan From AMBK For Industrial Asset In Allentown
2330 26th Street Southwest & 2591 Mitchell Avenue
See Similar DealsIndustrial130,000 SF
Financed 01/29/2025
Summary
PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$32
Total Square Footage:130,000 SF
Transaction Type:Loan
The property asset involved in this transaction is an industrial space located at 2330 26th Street Southwest & 2591 Mitchell Avenue in the Allentown market. The asset encompasses a total of 65,000 square feet and is associated with a loan amount of $4,200,000 for construction, structured over a term of 5 years.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $4,200,000
- Lender: AMBK
- Landlord: Mitchell Partners Group
- Broker: Tzvi Balsam - The Leopard Group
This transaction features Tzvi Balsam, representing Mitchell Partners Group as the broker in the deal. The focus of the construction loan is to facilitate development within the target industrial space, aligning with the strategic objectives of the landlord and lender.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,200,000.00
Monthly NOI$28,000.00
Monthly Debt Service$26,546.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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