The Hampshire Cos. Secures $28.5M Construction Loan For 85-Unit Multifamily Property In Morristown
FINANCED
$28,480,000
New Jersey
See Similar DealsMultiFamily
Financed 04/05/2022
FINANCED
The Hampshire Cos. Secures $28.5M Construction Loan For 85-Unit Multifamily Property In Morristown
175 Morris Street, Morristown, New Jersey 07960, United States
See Similar DealsMultiFamily
Financed 04/05/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The Hampshire Cos. has secured a construction loan for a multifamily property in Morristown. The property, located at 175 Morris St, consists of 85 units. The loan, amounting to $28,480,000, has a three-year fixed-rate term.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $28,480,000
- Address: 175 Morris St
- Market: Morristown
- Units: 85
The deal was facilitated by Michael Klein and Jon Mikula from JLL Capital Markets, who represented The Hampshire Cos.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$28,480,000.00
Monthly NOI$189,866.67
Monthly Debt Service$180,012.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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