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$3,800,000
First Mortgage
Marijon Dying
and Finishing Co.
East Rutherford, New Jersey |
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Marijon Dyeing and Finishing Plant is a 104,000+ square foot industrial
building located in an industrial section of East Rutherford, New
Jersey. The plant, which is used for textile dyeing and finishing,
is occupied solely by the company which performs the work.
Suburban provided a first mortgage loan for the borrower to acquire
the property. The loan was a fixed-rate mortgage having a 10-year
maturity with a 30-year amortization, and was priced at a fixed interest
rate spread over the 10-Year U.S. Treasury Bond Index.
The principals of the borrower were also the owners of Marijon, and
Suburban provided the financing based on a master lease between the
principals and the borrowing entity.
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