Updated Oct 29, 2024
Hartford Investment Management Co Provides $25M Loan For Industrial Property At 500 Meadowland Parkway In Secaucus
500 Meadowlands Pkwy, Secaucus, NJ 07094, USA
$25,000,000
$35/SF
Building Size
706,487 SF
Asset Type
Industrial
Closing
Sep 27, 2020
About this deal
AI
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
Secaucus Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93