May 21, 2024

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PDL Neighborhood Bancorp Inks $2.4M US House Income Agreement

2 min read

PDL Local community Bancorp on Dec. 31 disclosed that PFS Provider, the services corporation of its subsidiary Ponce Financial institution, has entered into a sale and leaseback deal for the real assets found in Union Metropolis, New Jersey.

PDL Group Bancorp (PDLB) is the financial holding corporation for Ponce Bank and Mortgage loan Environment Bankers. The obtain cost for the residence is $2.4 million.

The carrying value of the home stood at $512,000 as of Dec. 22, 2020. Further fees have been anticipated all through the transaction course of action.

As part of the agreement, Ponce Financial institution will lease back the property for an original time period of 15 decades with four optional conditions of 5 decades each below the leaseback arrangement. The first foundation yearly hire is believed at $145,000 issue to a annually rent hike of 1.5%.

 “2021 will keep on to be a calendar year of investing – in the protection of our people today and the foreseeable future of our organization and our communities – with the clear target of boosting stakeholder values,” commented PDL Group Bancorp CEO Carlos P. Naudon. (See PDLB stock analysis on TipRanks)

Very last month, Compass Place analyst Laurie Havener raised the stock’s price tag concentrate on to $12 (14.2% upside opportunity) from $11 and reiterated a Invest in ranking. Shares have lost 29% in 2020.

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