Updated Oct 29, 2024
Nuveen Real Estate Provides $32.75M Industrial Loan In Secaucus, North Bergen, Carteret, Avenel, & South Florida
1 Cory Road
$32,750,000
$79/SF
Building Size
410,000 SF
Asset Type
MultiFamily
Closing
Dec 15, 2020
About this deal
AI
An industrial property located in Secaucus, North Bergen, Carteret, Avenel, and South Florida, with a total area of 410,000 square feet, has recently closed a loan transaction.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $32,750,000
The loan, amounting to $32,750,000, was provided by Nuveen Real Estate. The full term of the loan is interest only.
The property is owned by Seagis Property Group LP. The deal was facilitated by Jim Cadranell, Gregory Nalbandian, and Maxx Carney of JLL Capital Markets.
Players
Morristown MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93