FINANCED
Morgan Stanley Provides $44M Loan To Allendale Industrial Portfolio
40 Boroline Road, 90 Boroline Road, 25 Commerce Drive, 50 Commerce Drive, 80 Commerce Drive & 110 Commerce Drive
Industrial
2,335,350 SF
2,335,350 SF
Financed 1 year ago
Summary
Loan
NEW JERSEY
Industrial
2,335,350 sqft
A portfolio of six industrial buildings located at 40 Boroline Road, 90 Boroline Road, 25 Commerce Drive, 50 Commerce Drive, 80 Commerce Drive, and 110 Commerce Drive in Allendale, NJ has been refinanced. The buildings have a total square footage of 389,225 and are owned by Allendale Corporate Center LLC.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $44,000,000
- Market: Allendale, NJ
Morgan Stanley provided the refinancing loan for the portfolio. The loan amount is $44,000,000, with a 10-year fixed rate term. The loan-to-value (LTV) ratio is 63% and the payments are interest-only for the full term.
Emil DePasquale from Black Bear Capital Partners represented the borrower in the transaction.
Players
All
3
Agents
1
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Emil DePasquale
DATE: 07/28/2022
ADDRESS: 40 Boroline Road, 90 Boroline Road, 25 Commerce Drive, 50 Commerce Drive, 80 Commerce Drive & 110 Commerce Drive
MARKET: Allendale, NJ
ASSET TYPE: Industrial ~ SF: 389,225
LENDER: Morgan Stanley
LANDLORD: Allendale Corporate Center LLC
BROKERS: Emil DePasquale - Black Bear Capital Partners (@BlackBearCapitalPartners)
LOAN AMOUNT: $44,000,000
LOAN TYPE: Refinance
LOAN TERMS: The six (6) industrial building portfolio, spanning 389k SF, was refinanced with a 10-year fixed rate loan at 63% LTV and full-term interest-only payments.View on map
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Address40 Boroline Road, 90 Boroline Road, 25 Commerce Drive, 50 Commerce Drive, 80 Commerce Drive & 110 Commerce Drive
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