David Cohen Of Meridian Capital Group Secures $31.27 Million Refinance For South Jersey Multifamily Portfolio
$15,790,000
$109/SF
Building Size
143,760 SF
Asset Type
MultiFamily
Closing
Dec 20, 2024
AI
The asset involved in this transaction is a South Jersey Multifamily Portfolio comprising 368 units. It is located in the New Jersey market and is associated with a refinance loan amount of $31,265,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $31,265,000
- Units: 368
- Loan Type: Refinance
- Date: 12/20/2024
- Broker: David Cohen - Meridian Capital Group
- Market: New Jersey
David Cohen from Meridian Capital Group represents the refinance transaction for the South Jersey Multifamily Portfolio. This transaction contributes to the ongoing dynamics of the multifamily segment within the New Jersey market.
Lawrence Township MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93