Updated Dec 12, 2024
Invesco Real Estate And Baranof Holdings Acquire Self Storage Property In Red Bank
6 Central Avenue, Red Bank, New Jersey 07701, United States
Building Size
59,100 SF
Asset Type
—
Closing
Mar 1, 2022
About this deal
AI
A self-storage property located at 6 Central Ave in Red Bank has been sold in a recent transaction. The property spans a total area of 59,100 square feet, providing ample space for storage needs.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: Not specified in the provided information
- Address: 6 Central Ave
- Market: Red Bank
- Buyer: Invesco Real Estate & Baranof Holdings
- Seller: Tresnan Property Group
- Brokers: Noah Obuchowski, Robert Bloch & Mike Mele - Cushman & Wakefield
The buyer in this transaction is a joint venture partnership between Invesco Real Estate and Baranof Holdings. On the other hand, the seller is Tresnan Property Group. The deal was facilitated by the brokers Noah Obuchowski, Robert Bloch, and Mike Mele from Cushman & Wakefield. Unfortunately, the exact transaction amount has not been disclosed in the provided information.
On the Map
Players
Red Bank CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93