Updated Oct 29, 2024
Madison Realty Capital Provides $145.7M Loan For Multifamily Properties In Parsippany, Basking Ridge, NJ
100 Cherry Hill Rd, Parsippany, NJ, USA
$145,700,000
$2,601/SF
Building Size
56,000 SF
Asset Type
MultiFamily
Closing
Apr 11, 2021
About this deal
AI
A $145,700,000 loan has been secured for a multifamily property located at 100-120 Cherry Hill Rd. & 180-181 Mountainview Blvd. in Parsippany and Basking Ridge, NJ. The property spans 56,000 square feet and consists of 605 units/townhomes. The loan was provided by Madison Realty Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $145,700,000
- Market: Parsippany, Basking Ridge, NJ
- Image: Josh Zegen
- Landlord: Accurate Builders & Developers
Madison Realty Capital served as the lender for this transaction. The loan was secured by Accurate Builders & Developers, the landlord of the property.
Players
Parsippany MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New Jersey multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93