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Flushing Bank Provides $29.75M Acquisition Loan For West Manchester Property

1800 Loucks Road & 855 Town Center Drive
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This Other property located in PA received a loan of $29,750,000 almost 2 years ago. The broker of the deal was Morris Dweck

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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Deals
  • Location
    1800 Loucks Rd, West Manchester Township, PA 174081800 Loucks Rd, West Manchester Township, PA 17408
  • Loan Value
    $29,750,000$29,750,000
  • Asset Type
    OtherOther
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Morris Dweck

Morris Dweck

Deals21
Financed$281.7M

Agency

Kassin Sabbagh Realty

Kassin Sabbagh Realty

Agency
Deals1091
Volume$7.1B

Flushing Bank

Flushing Bank

Lender
Deals28
Volume$ 9.6B

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Deal Summary

LOAN IMAGE: Morris Dweck DATE: 05/05/2022 ADDRESS: 1800 Loucks Road & 855 Town Center Drive MARKET: West Manchester, PA ASSET TYPE: Note ~ SF: 489,657 LENDER: Flushing Bank LANDLORD: Paramount Realty BROKER: Morris Dweck (@Morris__Dweck) - KSR Capital LOAN AMOUNT: $29,750,000 LOAN TYPE: Acquisition LOAN TERMS: 70% LTV, 7 year term, 30 year amortization, 1 year IO, Non recourse

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1800 Loucks Road & 855 Town Center Drive

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