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Rodani Homes Secures $1.75M Loan From Columbia Bank For Hillside Avenue Properties

Property Image
FINANCED
$1,750,000

New Jersey

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MultiFamily8,360 SF
Financed 05/31/2023
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Property Image
FINANCED

Rodani Homes Secures $1.75M Loan From Columbia Bank For Hillside Avenue Properties

217 Hillside Ave Hillside, NJ 07205, USA

See Similar Deals
MultiFamily8,360 SF
Financed 05/31/2023
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$209
Total Square Footage:8,360 SF
Transaction Type:Loan

A refinance loan has been secured for the multi-family and mixed-use property located at 217-219 Hillside Avenue & 307 Hillside Avenue in Hillside, NJ. The property consists of 12 units with a total square footage of 8,360. The loan has been provided by Columbia Bank to the borrower, Rodani Homes, led by Roy Temiz.

Summary of transaction details:

  • Property Type: Multi Family & Mixed-Use
  • Loan Amount: $1,750,000
  • Loan Type: Refinance
  • Lender: Columbia Bank
  • Borrower: Rodani Homes - Roy Temiz

Rodani Homes actively seeks value-add properties with 5-20 units, including multi-family or mixed-use properties. They focus on maximizing potential through strategic improvements. For further discussion, interested parties can contact Rodani Homes' acquisitions team.

Players

Columbia Bank
Columbia Bank
LENDER

Details

FINANCED
IMAGE: Rodani Homes DATE: 05/31/2023 ADDRESS: 217-219 Hillside Avenue & 307 Hillside Avenue MARKET: Hillside, NJ ASSET TYPE: Multi Family & Mixed-Use ~ UNITS: 12 ~ SF: 8,360 LENDER: Columbia Bank BORROWER: Rodani Homes (@RodaniHomes) - Roy Temiz (@Roytemiz) LOAN AMOUNT: $1,750,000 LOAN TYPE: Refinance NOTE FROM BORROWER: Rodani Homes actively seeks to acquire 5-20 unit value add properties, including multi-family or mixed-use, with a focus on maximizing potential through strategic improvements. Contact our acquisitions team for further discussion.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,750,000.00

Monthly NOI$11,666.67
Monthly Debt Service$11,061.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00