Loan Type : Acquisition
Loan : $3,375,000
A $3,375,000 permanent loan for the acquisition of two adjacent office buildings located in West Deptford, New Jersey. The ten-year CMBS loan carries an interest rate the ten-year swap rate plus 220 basis points with a 30-year amortization. The loan was underwritten at 75% of purchase price and is non-recourse.