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6 Central Avenue, Red Bank,...

Invesco Real Estate And Baranof Holdings Acquire Self Storage Property In Red Bank
SOLD

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

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.

Players

Michael Mele

Cushman & Wakefield

Broker

$232.3M

vol

15 deals

Broker
Invesco Real Estate
Invesco Real EstateBuyer
Invesco Real Estate
Invesco Real EstateLender

Red Bank 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93