Flushing Bank Provides $29.75M Acquisition Loan For West Manchester Property
FINANCED
$29,750,000
Pennsylvania
See Similar DealsOther489,657 SF
Financed 05/05/2022
FINANCED
Flushing Bank Provides $29.75M Acquisition Loan For West Manchester Property
1800 Loucks Rd, West Manchester Township, PA 17408
See Similar DealsOther489,657 SF
Financed 05/05/2022
Summary
PENNSYLVANIA
Asset Type:Other
Price Per Square Foot:$60
Total Square Footage:489,657 SF
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,750,000.00
Monthly NOI$198,333.33
Monthly Debt Service$188,040.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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