Norkez Properties Secures $32M Construction Loan For Jersey City Multifamily
FINANCED
$32,000,000
New Jersey
See Similar DealsMultiFamily
Financed 10/18/2023
FINANCED
Norkez Properties Secures $32M Construction Loan For Jersey City Multifamily
143 Christopher Columbus Drive
See Similar DealsMultiFamily
Financed 10/18/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
A construction loan in the amount of $32,000,000 has been secured by Norkez Properties for a multifamily property located at 143 Christopher Columbus Drive in Jersey City. The property consists of 60 units and is situated in the Jersey City market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $32,000,000
- Address: 143 Christopher Columbus Drive
- Market: Jersey City
- Number of Units: 60
The lender for this loan is BHI, while Daniel Cohen and Tal Savariego from Meridian Capital Group acted as the brokers representing Norkez Properties in the deal.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$32,000,000.00
Monthly NOI$213,333.33
Monthly Debt Service$202,261.77
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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