Meridian Capital Group Arranges $210M Refinance Loan For Holmdel Mixed-Use Property
FINANCED
$210,000,000
+ 1
New Jersey
See Similar DealsMixed-use1,370,000 SF
Financed 04/08/2022
FINANCED
Meridian Capital Group Arranges $210M Refinance Loan For Holmdel Mixed-Use Property
101 Crawfords Corner Road, Holmdel, New Jersey 07733, United States
See Similar DealsMixed-use1,370,000 SF
Financed 04/08/2022
+ 1
Summary
NEW JERSEY
Asset Type:Mixed-use
Price Per Square Foot:$153
Total Square Footage:1,370,000 SF
Transaction Type:Loan
Located at 101 Crawfords Corner Road in Holmdel, NJ, this mixed-use property spans approximately 1,370,000 square feet. The property is owned by Adarsan Holdings Limited and Somerset Development and features a diverse range of uses.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $210,000,000
- Loan Type: Refinance
- Loan Terms: 10 year, fixed rate, interest only
- Lenders: Citi, BMO, and Barclays
- Landlords: Adarsan Holdings Limited and Somerset Development
- Brokers: Drew Anderman, Alan Blank, David Bollag, and Eli Serebrowski - Meridian Capital Group
The loan for this transaction was provided by Citi, BMO, and Barclays. The loan amount totaled $210,000,000 and was used to refinance the property. The loan terms include a 10-year term with a fixed interest rate and interest-only payments.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$210,000,000.00
Monthly NOI$1,400,000.00
Monthly Debt Service$1,327,342.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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