Horizon Equities Acquires Mixed-Use Properties In Ocean County NJ For $46M
Multiple Addresses In Toms River
$46,000,000
$148/SF
Building Size
310,000 SF
Asset Type
Mixed-use
Closing
Dec 19, 2022
AI
Horizon Equities, a real estate investment firm led by Joe Kotler, has acquired a mixed-use property in Ocean County, NJ. The property, located at 931 Fischer Blvd, 2850 Yorktown Blvd, 1 & 3 Plaza Drive, 31 & 600 Mule Road, 190 St Catherine Blvd, 730 & 730 Jamaica Blvd, and 9 Wrangle Brook Road in Toms River, offers a total of 310,000 square feet of space. The transaction was facilitated by Marcus & Millichap, with brokers Alan Cafiero, Brent Hyldahl, and Seth Goldberg representing both the buyer and seller, Edele Hovnanian.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $46,000,000
- Price Per Square Foot: $148
- Market: Ocean County, NJ, Toms River
Joe Kotler, representing Horizon Equities, played a key role in the acquisition. The deal was successfully coordinated by brokers Alan Cafiero, Brent Hyldahl, and Seth Goldberg from Marcus & Millichap.
Players
Ocean County NJ Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93