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Walker & Dunlop Arranges $85.4M Bridge Loan For Jersey City Multifamily Property

Property Image
FINANCED
$85,400,000
Rhett Saltiel
Kristopher (Kris) Wood
John Wilson
+ 2

New Jersey

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MultiFamily
Financed 09/20/2022
the dealplayerscompscontact
Property Image
FINANCED

Walker & Dunlop Arranges $85.4M Bridge Loan For Jersey City Multifamily Property

15 Carbon Place, Jersey City, New Jersey 07305, United States

See Similar Deals
MultiFamily
Financed 09/20/2022
Rhett Saltiel
Kristopher (Kris) Wood
John Wilson
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 15 Carbon Place and 33 University Place Blvd in Jersey City has recently undergone a closed transaction. The property consists of 342 units and is situated in a vibrant market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $85,400,000
  • Loan Type: Bridge Loan
  • Loan Terms: Two-year, fixed rate, non-recourse

Walker & Dunlop represented the parties involved in the transaction, including John Banas, Kris Wood, Christopher Philipps, John Wilson, Rhett Saltiel, and Erik DiGirolamo.

The loan secured for this transaction amounts to $85,400,000. It is a bridge loan with a two-year term, fixed rate, and non-recourse terms.

Players

John Banas
NorthMarq
John Banas
6 deals$320.3M volume(215) 803-2244
BROKER
Kristopher (Kris) Wood
NorthMarq
Kristopher Wood
6 deals$320.3M volume(215) 219-8404
BROKER
Rhett Saltiel
Walker & Dunlop
Rhett Saltiel
3 deals$209.8M volume
BROKER
Erik DiGirolamo
Walker & Dunlop
Erik DiGirolamo
3 deals$209.8M volume
BROKER
John Wilson
Walker & Dunlop
John Wilson
6 deals$121.4M volume
BROKER

Details

FINANCED
IMAGE: John Banas, Kris Wood, Christopher Philipps, John Wilson, Rhett Saltiel & Erik DiGirolamo DATE: 09/20/2022 ADDRESS: 15 Carbon Place & 33 University Place Blvd MARKET: Jersey City ASSET TYPE: Multifamily ~ UNITS: 342 BROKERS: John Banas, Kris Wood, Christopher Philipps, John Wilson, Rhett Saltiel & Erik DiGirolamo (@Erik_Digirolamo) - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $85,400,000 LOAN TYPE: Bridge Loan LOAN TERMS: two-year, fixed rate, non-recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$85,400,000.00

Monthly NOI$569,333.33
Monthly Debt Service$539,786.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00