Invictus Real Estate Partners Provides $63.2M Recap Loan For Condo Development On Churchill Road
FINANCED
$63,200,000
+ 2
New Jersey
See Similar DealsCondo165,000 SF
Financed 12/04/2022
FINANCED
Invictus Real Estate Partners Provides $63.2M Recap Loan For Condo Development On Churchill Road
8701 Churchill Road
See Similar DealsCondo165,000 SF
Financed 12/04/2022
+ 2
Summary
NEW JERSEY
Asset Type:Condo
Price Per Square Foot:$383
Total Square Footage:165,000 SF
Transaction Type:Loan
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
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$63,200,000.00
Monthly NOI$421,333.33
Monthly Debt Service$399,466.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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