Updated Nov 29, 2023
Northwind Group Provides $50M Pre-Development Loan For Edgewater, NJ Development Site
615 River Road, Edgewater, New Jersey 07020, United States
$50,000,000
Building Size
—
Asset Type
Development Site
Closing
Dec 22, 2022
About this deal
AI
A pre-development loan has been secured for a development site in Edgewater, NJ. The site, located at 615 River Road, spans 14 acres. The loan amount for this project is $50,000,000.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $50,000,000
- Address: 615 River Road, Edgewater, NJ
- Market: Edgewater, NJ
- Lender: Northwind Group - Ran Eliasaf
- Landlord: Maxal Group - Bruce Sturman; EnviroFinance Group - Ed Elanjian; Equity Resource Investments - Eggert Dagbjartsson & Victor J. Paci
- Loan Type: Pre-Development Loan
The lender for this pre-development loan is the Northwind Group, represented by Ran Eliasaf. The property is owned by Maxal Group, with Bruce Sturman as the representative, as well as EnviroFinance Group, represented by Ed Elanjian, and Equity Resource Investments, with representatives Eggert Dagbjartsson and Victor J. Paci.
Players
Edgewater Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93