TriState Capital Bank Provides $8.5M Refinancing Loan For 81,400 SF Office In Collegeville, Pennsylvania
FINANCED
$8,500,000
Pennsylvania
See Similar DealsOffice81 SF
Financed 01/25/2023
FINANCED
TriState Capital Bank Provides $8.5M Refinancing Loan For 81,400 SF Office In Collegeville, Pennsylvania
1000 Campus Drive, Collegeville, Pennsylvania 19426, United States
See Similar DealsOffice81 SF
Financed 01/25/2023
Summary
PENNSYLVANIA
Asset Type:Office
Price Per Square Foot:$104,938
Total Square Footage:81 SF
Transaction Type:Loan
Located at 1000 Campus Drive in Collegeville, Pennsylvania, this Office property spans a total of 81,400 square feet. The transaction involved a refinancing loan provided by TriState Capital Bank for a loan amount of $8,500,000. The landlord of the property is 1000 Campus Partners LLC. The brokers responsible for this deal were Jack Cortese and David Frankel from D2 Capital Advisors.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $8,500,000
- Address: 1000 Campus Drive
- Market: Collegeville, Pennsylvania
- Asset Type: Office
- Square Footage: 81,400
- Lender: TriState Capital Bank
- Landlord: 1000 Campus Partners LLC
- Brokers: Jack Cortese & David Frankel - D2 Capital Advisors
- Loan Type: Refinancing Loan
The deal involved the cooperation of various individuals and companies. Jack Cortese and David Frankel from D2 Capital Advisors played a pivotal role as brokers representing the parties involved in the transaction. Their expertise in the field ensured a successful refinancing loan from TriState Capital Bank for the property located at 1000 Campus Drive.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,500,000.00
Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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