Modway Inc. Acquires Industrial Property In Highstown, NJ For $49.5M Loan

The industrial property located at 329 Wyckoff Mills Road in Highstown, NJ, has recently undergone a closed transaction. The property spans over 634,495 square feet and is owned by Modway Inc.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $49,500,000
• Loan Terms: A 10-year loan was structured for the property with interest-only financing for the entire term. The loan was priced at 3.46 percent with an 80 percent loan-to-cost ratio.
• Landlord: Modway Inc.
• Brokers: Dev Morris, Allison Villamagna & Andrew Stewart - Cronheim Mortgage

The deal was facilitated by Dev Morris, Allison Villamagna, and Andrew Stewart of Cronheim Mortgage, representing Modway Inc. The loan amount obtained for the transaction was $49,500,000 with favorable terms. The 10-year loan offers interest-only financing for the entire term and was priced at 3.46 percent with an 80 percent loan-to-cost ratio.