Updated Oct 29, 2024
ALTO Real Estate Funds Acquires Property From FCA In Toms River For $21.1M
1350 Hooper Ave, Toms River, NJ, 08753
$21,100,000
$174/SF
Building Size
120,653 SF
Asset Type
—
Closing
Nov 20, 2023
About this deal
AI
The transaction involved a property located at 1350 Hooper Ave, Toms River, NJ, 08753. This asset was sold for a transaction amount of $21,100,000.00, encompassing a total square footage of 120,653, and is situated within the Toms River market.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $21,100,000.00
- Address: 1350 Hooper Ave, Toms River, NJ, 08753
- Market: Toms River
- Seller: FCA
- Buyer: ALTO Real Estate Funds
- Seller's Representative: Kevin O’Hearn (JLL)
Key individuals involved in this transaction include Kevin O’Hearn, representing the seller FCA, and ALTO Real Estate Funds as the buyer of the property. The transaction marks a significant change of ownership in the specified market, facilitated by the representation of JLL.
Players
Toms River 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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93