Jewel Capital negotiated $2,025,000 in financing for the acquisition of a warehouse located in Kenilworth, New Jersey. The 10-year acquisition loan, provided by a local commercial bank, features a low interest rate of 3.875% and is being used to acquire the warehouse with a total purchase price at $2,700,000.
The property is a one-story warehouse with 10 parking spaces in Kenilworth, New Jersey. The lot area is 63,162 square feet and the gross floor area is around 24,560 square feet. The property will be fully-occupied by the borrower, a fast-growing E-commerce merchandising company.
Kenilworth is a borough of the Union County, New Jersey. The major residents are sales and office workers, managers and service providers. There are especially a lot of people living in Kenilworth who work in office and administrative support (22.35%), sales jobs (11.38%) and management occupations (9.80%).
The per capita income in Kenilworth in 2010 was $41,792, which is upper middle income relative to New Jersey, and wealthy relative to the rest of the U.S. The greatest number of Kenilworth residents report their race to be White, followed by Asian.
The public transportation is very convenient in Kenilworth. NJ Transit provides bus service between Kenilworth and the Port Authority Bus Terminal in Midtown Manhattan in New York City and to New Jersey points, including the city of Elizabeth and nearby Union County College in Cranford.
The borrower runs an E-commerce business of selling merchandise and has ample experiences in investing and managing real estate properties, especially in New Jersey. The company is growing rapidly and grossed $100 million revenue last year. Jewel Capital matches the most suitable lender and is currently negotiating another refinance loan for this client.
JEWEL CAPITAL is a fast-growing commercial real estate capital advisory firm based in New York City. We are specialized in structuring and placing debt, mezzanine and equity financing in Northeast region. Our most competitive advantage is to provide our clients with tailored, best-in-class financing solutions.