Magazine Mile Capital not too long ago introduced that Bob Scarantino had secured a complete mortgage of $8.85 million to cowl the acquisition of three funding properties in New Jersey: a medical/dental workplace house in Hammonton, a multitenant workplace house in Egg Harbor Township and one other multitenant flex property with two buildings in Hammonton.
Magazine Mile Capital is a full-service industrial actual property mortgage banking agency headquartered in Chicago with places of work in New York, Massachusetts, Connecticut, Florida, Texas, Michigan, Colorado and Nevada.
“This was a fancy deal involving a number of properties and most leverage, however we’re comfortable to shut this one easily at a superb fee,” Scarantino mentioned. “The primary three-unit house is 100% occupied with medical and dental tenants. Practically 70% of the house is fitted for medical and is occupied by Liberty Dialysis. The property in Egg Harbor is a low-rise workplace constructing with over 90% occupied — 4 of 5 models. And the flex property truly consists of two buildings, one in-built 1986, the opposite in 1994. Each buildings characterize 58,860 sq. ft and all 4 models are occupied.”