Republic Bank Provides $2.3M Acquisition Loan For Mixed-Use Property In Manchester, NJ
FINANCED
$2,300,000
Texas
See Similar DealsMixed-use32,878 SF
Financed 12/27/2022
FINANCED
Republic Bank Provides $2.3M Acquisition Loan For Mixed-Use Property In Manchester, NJ
550 County Road 530
See Similar DealsMixed-use32,878 SF
Financed 12/27/2022
Summary
TEXAS
Asset Type:Mixed-use
Price Per Square Foot:$70
Total Square Footage:32,878 SF
Transaction Type:Loan
The mixed-use property located at 550 County Road 530 in Manchester, NJ, was recently involved in a loan transaction. The property has a total square footage of 32,878 and is owned by Joseph Pucci.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $2,300,000
- Loan Type: Acquisition
Eddie Miro and Brian Anderson from Progress Capital represented the borrower in securing the loan from Republic Bank. This loan will allow the borrower to acquire the property and take advantage of its mixed-use potential in Manchester, NJ.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,300,000.00
Monthly NOI$15,333.33
Monthly Debt Service$14,537.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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