Updated Oct 7, 2025
Capodagli Property Company Secures $285.7 Million Refinance Loan From PGIM For Multifamily Assets
209 Valley Street, 261 Wanaque Avenue, 1001 West Elizabeth Avenue & 110 Bergen Turnpike
$285,700,000
Units
106
Asset Type
MultiFamily
Closing
Sep 29, 2025
About this deal
AI
The transaction involves multifamily assets located at 209 Valley Street, 261 Wanaque Avenue, 1001 West Elizabeth Avenue, and 110 Bergen Turnpike across the South Orange, Pompton Lakes, Linden, and Little Ferry markets. The total number of units is 1,014, with a refinance loan amount of $285,700,000 secured by PGIM as the lender. The landlord for the properties is Capodagli Property Company.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $285,700,000
- Lender: PGIM
- Landlord: Capodagli Property Company
- Units: 1,014
- Market: South Orange, Pompton Lakes, Linden & Little Ferry
- Loan Type: Refinance
The deal is facilitated by brokers Drew Fletcher, Bryan Grover, Miryam Reinitz-Kops, and Jesse Kopecky from Greystone, representing the landlord in this transaction.
Players
South Orange 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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93