Updated Oct 28, 2024
Flushing Bank Provides $29.75M Acquisition Loan For West Manchester Property
1800 Loucks Rd, West Manchester Township, PA 17408
$29,750,000
$60/SF
Building Size
489,657 SF
Asset Type
Other
Closing
May 4, 2022
About this deal
AI
The property asset involved in the transaction is a note located at 1800 Loucks Road & 855 Town Center Drive in West Manchester, PA. The property has a total square footage of 489,657.
Summary of transaction details
- Property Type: Note
- Transaction Amount: $29,750,000
- Market: West Manchester, PA
- Lender: Flushing Bank
- Landlord: Paramount Realty
- Broker: Morris Dweck - KSR Capital
The loan is an acquisition type with the following terms: 70% loan-to-value ratio, 7-year term, 30-year amortization, 1-year interest-only period, and it is non-recourse.
Players
West Manchester Township Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93