Updated Oct 28, 2024
Turner Group Acquires 49 Acres Of Land In Pohatcong Township, NJ For $3.5M
I-78, Jersey City, Pohatcong Township, Warren County, NJ, USA
$3,500,000
$1/SF
Building Size
2,134,440 SF
Asset Type
—
Closing
Sep 14, 2021
About this deal
AI
The I-78 Solar Farm, located in Warren County, Pohatcong Township, NJ, was recently sold in a transaction. The land spans approximately 49 acres, making it a valuable asset for development or renewable energy projects.
Summary of transation details
- Property Type: Land
- Transaction Amount: $3,500,000
- Buyer: Turner Group
- Seller: RDG at Pohatcong
- Brokers: Andy Merin, Kyle Schmidt, Andrew Schwartz, Jordan Sobel, and Andre Balthazard - Cushman & Wakefield
The buyer, Turner Group, acquired the I-78 Solar Farm from the seller, RDG at Pohatcong, in the sale transaction. The deal was facilitated by brokers Andy Merin, Kyle Schmidt, Andrew Schwartz, Jordan Sobel, and Andre Balthazard, representing the parties involved in the negotiations.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93