Cornerstone Capital Secures $8M Refinance Loan For Cranford, NJ Industrial Warehouse | 70 Jackson Drive | Sean Kuts, Russell Nova | Industrial | Loan

Summary

Loan

NEW JERSEY

Industrial

168,000 sqft

An industrial warehouse located at 70 Jackson Drive in Cranford, NJ has recently undergone a loan refinance transaction. The property, measuring approximately 168,000 square feet, serves as a valuable asset in the market.

Summary of transaction details

Property Type: Industrial
Transaction Amount: $8,000,000
Address: 70 Jackson Drive, Cranford, NJ

Russell Nova and Sean Kuts from Cornerstone Capital were the brokers involved in this deal. They represented the landlord, Victor Tseng, in securing financing for the property from Builder Bank.

The loan agreement amounted to $8,000,000, featuring a 3.6% interest rate and a fixed term of 7 years. Additionally, the loan includes a 2-year period of interest-only payments. The transaction was requested after the client's rush purchase of the property, prompted by a 1031 Exchange. @Sean_Kuts worked closely with the sponsors to fulfill their requests in a timely manner. @CornerstoneCapitalofNY deserves recognition for successfully executing the transaction.

For more information, interested individuals can contact Nova, Principal at [email protected] or 917-559-1820 (cell), and Sean Kuts, Senior Relationship Manager, at [email protected] or 347-585-5212 (cell).

Players

All
3

Agents
2
Agencies
1

$28.3M Sold

$48.3M Sold

Cornerstone Capital Financing

Details

Deal Summary

FINANCED

IMAGE: Russell Nova & Sean Kuts DATE: 01/24/2022 ADDRESS: 70 Jackson Drive MARKET: Cranford, NJ ASSET TYPE: Industrial ~ SF: 168,000 LENDER: Builder Bank LANDLORD: Victor Tseng BROKERS: Russell Nova (@RussellNova) & Sean Kuts (@Sean_Kuts) - Cornerstone Capital (@CornerstoneCapitalofNY) LOAN AMOUNT: $8,000,000 LOAN TYPE: Refinance LOAN TERMS: 3.6% Rate, 7 Year Fixed, with 2 Years of Interest Only NOTE FROM BROKER: @CornerstoneCapitalofNY secured the Financing on this 168,000 SQ FT Industrial warehouse with Windows by Anderson being an Ancor Tenant. The client purchased the property in a rush due to a 1031 Exchange. Once purchased, he engaged with us to REFI a FULL CASH OUT, of $8MM with a 3.6% Rate, 7 Year Fixed and 2 Year Interest only. @Sean_Kuts worked directly with the sponsors to ensure that all their requests have been met and in a timely manner. Congrats to @Sean_Kuts and @CornerstoneCapitalofNY for the execution. Contact us and Envision yourself at the . Russell Nova, Principal [email protected] 917-559-1820 - Cell 718 975 8900 X 101 Sean Kuts, Senior Relationship Manger [email protected] 347-585-5212 - Cell 718 975 8900 x 103

View on map

Address70 Jackson Drive

Comparables

This user does not have deals with the selected filters yet.
Reset filters to show results.

Contact

Get in touch with the broker you want