Updated Oct 29, 2024
PCCP Secures $34.5M Loan From PGIM For MultiFamily Property In Edgewater
340 Old River Rd, Edgewater, NJ, 07020
$34,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
The property at 340 Old River Rd, Edgewater, NJ, 07020, is a MultiFamily asset that was part of a recent transaction involving a loan amount of $34,500,000.00. The borrower in this deal was PCCP, with PGIM acting as the lender in the transaction. Michael Klein from JLL represented the borrower on this transaction in Edgewater's market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $34,500,000.00
- Address: 340 Old River Rd, Edgewater, NJ, 07020
- Market: Edgewater
- Borrower: PCCP
- Lender: PGIM
- Borrower's Rep: Michael Klein (JLL)
This transaction involved key individuals and companies, with Michael Klein from JLL representing the borrower, PCCP, in securing the loan from PGIM for the MultiFamily property located in Edgewater's market.
Players
Edgewater 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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93