Marcus & Millichap Capital Corporation arranges $13.5M construction loan for industrial warehouse distribution center in East Windsor, NJ
WINDSOR, NJ – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has secured a $13.5 million construction loan for an industrial warehouse and distribution center in East Windsor, New Jersey. A domestic and international shipping and warehousing company will fully occupy the space. The transaction was secured by Gerald Kray, first vice president, based out of MMCC’s New Jersey office.
“This property is in close proximity to Philadelphia, a major metro center and will be connected to the New Jersey turnpike, allowing for optimal logistics and shipping efficiency,” said Kray. “Lender appetite for well-located industrial assets continues to be very strong, allowing us to secure very favorable terms for our client.”
The loan has an LTC of 70 percent and an interest rate of 3.75 percent. The 121,500-square foot property is set to be completed in Q3 of 2022, and is strategically located near industrial and distribution businesses, as well as major thoroughfares throughout the Tri-State region.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2021, MMCC closed 2,474 transactions totaling $11.6 billion. To learn more, please visit: marcusmillichap.com/financing
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