RMWC Provides $10.5M Loan For Self-Storage Acquisition On Hendricks Causeway
FINANCED
$10,500,000
New Jersey
See Similar Deals79,008 SF
Financed 06/27/2022
FINANCED
RMWC Provides $10.5M Loan For Self-Storage Acquisition On Hendricks Causeway
1099 Hendricks Causeway, Ridgefield, New Jersey 07657, United States
See Similar Deals79,008 SF
Financed 06/27/2022
Summary
NEW JERSEY
Price Per Square Foot:$132
Total Square Footage:79,008 SF
Transaction Type:Loan
An acquisition loan worth $10,500,000 was secured for the self-storage property located at 1099 Hendricks Causeway in Ridgefield, NJ. The property spans across 79,008 square feet and consists of 1,203 units. The loan was provided by rmwc''>RMWC.
Summary of transaction details:
- Property Type: Self-Storage
- Transaction Amount: $10,500,000
- Address: 1099 Hendricks Causeway, Ridgefield, NJ
- Market: Ridgefield, NJ
- Square Footage: 79,008
- Number of Units: 1,203
The landlord of the property is StorageBlue, represented by Alan Mruvka. Richard Horowitz and Justin Horowitz from Cooper Horowitz LLC acted as the brokers for the deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,500,000.00
Monthly NOI$70,000.00
Monthly Debt Service$66,367.14
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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