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Denholtz Properties Secures $18 Million Equity Loan For Multifamily Development In Bound Brook

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FINANCED
$18,000,000

New Jersey

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MultiFamily114,999 SF
Financed 08/12/2022
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Property Image
FINANCED

Denholtz Properties Secures $18 Million Equity Loan For Multifamily Development In Bound Brook

100 Hamilton St, Bound Brook, NJ 08805

See Similar Deals
MultiFamily114,999 SF
Financed 08/12/2022
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$156
Total Square Footage:114,999 SF
Transaction Type:Loan

A multifamily asset located at 100 Hamilton St, Bound Brook, features 114,999 square feet and consists of 143 units. This development is classified as Class A and is situated within an Opportunity Zone. The loan amount secured for the equity transaction is $18,000,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $18,000,000
  • Address: 100 Hamilton St, Bound Brook
  • Square Footage: 114,999
  • Landlord: Denholtz Properties - Steven Denholtz
  • Broker: Simon Goldstein - Buckingham Advisors
  • Loan Type: Equity
  • Development Partnership: Denholtz Properties and Redwood Real Estate Group

Simon Goldstein of Buckingham Advisors facilitated the $18MM equity placement for the multifamily development, representing the interests of the landlord, Denholtz Properties, in this transaction.

Details

FINANCED
IMAGE: Steven Denholtz & Simon Goldstein DATE: 08/12/2022 ADDRESS: 100 Hamilton St MARKET: Bound Brook ASSET TYPE: Multifamily ~ SF: 114,999 LANDLORD: Denholtz Properties - Steven Denholtz (@StevenDenholtz) BROKER: Simon Goldstein (@SimonGoldstein) - Buckingham Advisors LOAN AMOUNT: $18,000,000 LOAN TYPE: Equity NOTE FROM BROKER: This is an equity transaction Simon Goldstein of Buckingham Advisors placed $18MM of equity to a 143-unit, Class A transit-oriented multifamily development located in an Opportunity Zone in Bound Brook, NJ. The developer is a joint venture between Denholtz Properties, and Redwood Real Estate Group.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,000,000.00

Monthly NOI$120,000.00
Monthly Debt Service$113,772.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00