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Hartford Investment Management Co Provides $25M Loan For Industrial Property At 500 Meadowland Parkway In Secaucus

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FINANCED
$25,000,000

New Jersey

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Industrial706,487 SF
Financed 09/28/2020
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Property Image
FINANCED

Hartford Investment Management Co Provides $25M Loan For Industrial Property At 500 Meadowland Parkway In Secaucus

500 Meadowlands Pkwy, Secaucus, NJ 07094, USA

See Similar Deals
Industrial706,487 SF
Financed 09/28/2020
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$35
Total Square Footage:706,487 SF
Transaction Type:Loan

The industrial property located at 500 Meadowland Parkway in Secaucus has recently undergone a closed transaction. This property, spanning over 706,487 square feet, was involved in a deal facilitated by Thomas Didio of JLL. The lender in this transaction was Hartford Investment Management Co, providing a loan amount of $25,000,000. The landlord of this property is 500 Meadowland Parkway LLC.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $25,000,000
  • Address: 500 Meadowland Parkway
  • Market: Secaucus
  • Lender: Hartford Investment Management Co
  • Landlord: 500 Meadowland Parkway LLC
  • Broker: Thomas Didio - JLL
  • Square Footage: 706,487

This deal showcases the collaboration between Thomas Didio from JLL, who represented the party involved in the transaction, and the lender, Hartford Investment Management Co. These key individuals and companies played a crucial role in the successful closure of this industrial property deal at 500 Meadowland Parkway in Secaucus.

Players

Thomas E. Didio, Jr
43 deals$2.9B volume
BROKER

Hartford Investment Management
LENDER

Details

FINANCED
IMAGE: IMAGE: Thomas Didio⁠ DATE: 09/28/2020⁠ ADDRESS: 500 Meadowland Parkway⁠ MARKET: Secaucus⁠ ASSET TYPE: Industrial⁠ ⁠ LENDER: Hartford Investment Management Co⁠ LANDLORD: 500 Meadowland Parkway LLC⁠ BROKER: Thomas Didio – JLL⁠ ⁠ LOAN AMOUNT: $25,000,000⁠ SF: 706,487⁠ ⁠

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,000,000.00

Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00