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John Harrington Arranges $46.5M Loan Through Citigroup For Soldier Hill Commons

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FINANCED
$46,500,000

New Jersey

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MultiFamily
Financed 05/31/2024
the dealplayerscompscontact
Property Image
FINANCED

John Harrington Arranges $46.5M Loan Through Citigroup For Soldier Hill Commons

MultiFamily
Financed 05/31/2024
the dealplayerscompscontact
Contact now

Summary

Asset Type:MultiFamily
Transaction Type:Loan

Soldier Hill Commons is a newly developed multifamily property located in Paramus, New Jersey. The property features 140 Class-A units spread across three buildings on a spacious 35-acre site. Residents can enjoy upscale amenities such as pool facilities and gourmet kitchens.

Summary of transaction details:

HKS Real Estate Advisors, led by John Harrington, successfully arranged a $46.5 million CMBS loan through Citigroup for the financing of Soldier Hill Commons. The loan was secured for a reputable family-owned development company with vast real estate experience in New York, New Jersey, and Connecticut. This deal highlights HKS's expertise in arranging various forms of debt and equity financing, as well as providing investment sales advisory services.

Players

John Harrington
HKS Real Estate Advisors
John Harrington
6 deals$104.2M volume
BROKER
Citibank
Citibank
LENDER

Details

FINANCED
IMAGE: John Harrington DATE: 05/31/2024 ADDRESS: 1-5 Soldier Hill Road MARKET: Paramus ASSET TYPE: Multifamily LENDER: Citigroup (@CitiBank) BROKER: John Harrington - HKS Real Estate Advisors (@HKSRealEstateAdvisors) LOAN AMOUNT: $46,500,000 NOTE: HKS Real Estate Advisors, led by John Harrington, successfully arranged a $46.5 million CMBS loan through Citigroup for Soldier Hill Commons, a newly developed multifamily property in Paramus, New Jersey, featuring 140 Class-A units across three buildings on a spacious 35-acre site, offering residents upscale amenities such as pool facilities and gourmet kitchens. The financing, secured for a reputable family-owned development company with extensive experience in real estate across New York, New Jersey, and Connecticut, highlights HKS's expertise in arranging various forms of debt and equity financing, as well as investment sales advisory services.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$46,500,000.00

Monthly NOI$310,000.00
Monthly Debt Service$293,911.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00