Blue Vista Finance Provides $47.4M Refinance Loan For Meadowlands Industrial Property
5903 West Side Avenue, North Bergen, New Jersey 07047, United States
$47,400,000
$64/SF
Building Size
730,453 SF
Asset Type
Industrial
Closing
May 5, 2022
AI
An industrial property located at 5903-5905 West Side Avenue in Meadowlands, NJ has been involved in a recent closed transaction. The property spans an impressive 730,453 square feet, making it a substantial asset in the market.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $47,400,000
- Lender: Blue Vista Finance
- Brokers: Glenn Tolchin & Yoav Oelsner - Upland Property Advisors
- Loan Type: Refinance
- Loan Terms: Fixed rate, 10-years, Non-recourse
The loan for the transaction was provided by Blue Vista Finance. The borrowers were able to secure a non-recourse loan of $47,400,000 to refinance the property. The loan terms include a fixed rate for a duration of 10 years.
Players
North Bergen Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93