Fields Grade Development Secures $97M Loan For MultiFamily Property In Jersey City
FINANCED
$97,000,000
New Jersey
See Similar DealsMultiFamily
Financed 05/26/2022
FINANCED
Fields Grade Development Secures $97M Loan For MultiFamily Property In Jersey City
3 New York Ave, Jersey City, NJ, 07307
See Similar DealsMultiFamily
Financed 05/26/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The property asset involved in the transaction is a MultiFamily located at 3 New York Ave, Jersey City, NJ, 07307. The loan amount for this asset is $97,000,000.00, and it is situated in the Jersey City market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $97,000,000.00
- Borrower: Fields Grade Development
- Lender: Pacific Western Bank
- Borrower's Representative: Mark DeLillo-BlueGate Partners
The key individuals and companies involved in the deal include Fields Grade Development as the borrower and Pacific Western Bank as the lender, with Mark DeLillo from BlueGate Partners representing the borrower in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$97,000,000.00
Monthly NOI$646,666.67
Monthly Debt Service$613,105.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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