Updated Mar 11, 2025
Acier Holdings Secures $90M Construction Loan From Parkview Financial For Multifamily Property In Newark, NJ
289 Washington Street, Newark, New Jersey 07102, United States
$90,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 26, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 289-301 Washington Street in Newark, NJ. The property spans approximately 0.62 acres.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $90,000,000
- Market: Newark, NJ
The lender for this transaction was Parkview Financial, represented by Paul Rahimian. Acier Holdings served as the landlord.
This deal involved a construction loan of $90,000,000, which was provided by Parkview Financial.
The multifamily loan at 289 Washington Street, Newark, New Jersey 07102, United States in Newark, New Jersey financed for $90M in 2022. 289 Washington Street, Newark, New Jersey 07102, United States is classified as Multifamily on Traded. This page is the Newark, New Jersey file for the 289 Washington Street, Newark, New Jersey 07102, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Newark sit in the Market section below. Filter that Newark multifamily set by closing date to see what else financed near 289 Washington Street, Newark, New Jersey 07102, United States around 2022. Published consideration for 289 Washington Street, Newark, New Jersey 07102, United States is $90M, dated 2022. Cite this Acier Holdings Secures $90M Construction Loan From Parkview Financial For Multifamily Property In Newark, NJ loan when underwriting similar multifamily product around Newark, New Jersey.
Players
Newark MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93