Invictus Real Estate Partners Provides $63.2M Recap Loan For Condo Development On Churchill Road
8701 Churchill Road
$63,200,000
$383/SF
Building Size
165,000 SF
Asset Type
Condo
Closing
Dec 4, 2022
AI
A condo property located at 8701 Churchill Road in North Bergen has been involved in a recent closed transaction. The property consists of 70 units and is owned by Skyline Development Group and Vasco Ventures.
Summary of transation details
- Property Type: Condo
- Transaction Amount: $63,200,000
- Address: 8701 Churchill Road
- Market: North Bergen
- Units: 70
Invictus Real Estate Partners, represented by Chris Pardo, provided a recap loan of $63,200,000 for this transaction. The loan type was recapitalization. The brokers involved in the deal were Jonathan Aghravi and Eli Terry of JBA Equities, and Noam Katz and Michael Rothstein of Agile Capital Partners.
Players
North Bergen Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93