Updated Oct 28, 2024
RMWC Provides $10.5M Loan For Self-Storage Acquisition On Hendricks Causeway
1099 Hendricks Causeway, Ridgefield, New Jersey 07657, United States
$10,500,000
$132/SF
Building Size
79,008 SF
Asset Type
—
Closing
Jun 26, 2022
About this deal
AI
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.
On the Map
$10,500,000
$132/SF
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Players
Ridgefield CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93