Updated Dec 17, 2025
Beijing Ideal China Group Co Purchases Newark Property From Mack-Cali Realty For $93.9M
1085 Raymond BLVD, Newark, NJ, 071...
$93,900,000
$222/SF
Building Size
423,028 SF
Asset Type
—
Closing
Nov 20, 2023
About this deal
AI
The property located at 1085 Raymond Blvd, Newark, NJ, encompasses 423,028 square feet and was sold for $93,900,000.00. This transaction took place in the Newark market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $93,900,000.00
- Address: 1085 Raymond BLVD, Newark, NJ, 071...
- Market: Newark
- Seller: Mack-Cali Realty
- Buyer: Beijing Ideal China Group Co
- Seller's Representatives: Joseph Garibaldi (Walker & Dunlop), Katelyn Borovsky (JLL)
This transaction involved Mack-Cali Realty as the seller, with the buyer being Beijing Ideal China Group Co. The deal was represented by Joseph Garibaldi from Walker & Dunlop and Katelyn Borovsky from JLL, highlighting the collaboration between different agencies in facilitating this property sale.
Players
Newark CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93