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KDM2019-N001Q Print

Issued $9,690,000.00 1784 hits

Property Description

The subject properties consist of four flex/office buildings in southern New Jersey

$9,690,000.00 Loan amount

$14,250,000 appraised value

68% LTV

Deal Highlights


- Stabilized properties
- Long term tenants
- Low loan $/sq foot - $75.09
- Stable market

They are located at the following addresses 1111 Reading Ave, Hammonton, NJ, 392 White Horse Pike Hammonton, NJ, 6727 Delilah Road Egg Harbor Township, NJ and 897 Twelfth Street, Hammonton, NJ. The property at 1111 Reading Avenue is a NNN lease, fully occupied by American Fiberglass Company. 392 White Horse Pike is a modified NNN lease and is also fully occupied. The largest tenant, Liberty Dialysis has invested over $1,000,000 in upgrades. Liberty Dialysis is currently exercising their second of 3 -five year lease extensions. Masterminds, a long term tenant at 6727 Delilah Road has recently renewd their lease. 897 Twelfth Street is fully occipied including a long term tenant for the past 18 years. This property also has installed solar panels, which has provided an average of $87,305 of yearly revenue for the past five years.

 

Summary

  • Location Hammonton, NJ 08037, USA
  • Price $9,690,000.00
  • Property Type: Commercial Building
  • Status: Issued
  • Interest Rate: 6.25 %
  • Loan Status:
    • Taking When As and If Issued Orders
  • CUSIP: 50067AAK8
  • Closing Date: 2019-03-25
  • LTV: 68 %
  • Maturity Date: 2024-03-25
  • Rating: A-

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