Rockledge Property Group Secures $35 Million Refinance Loan For Multifamily Asset In Montclair, NJ
FINANCED
$35,000,000
New Jersey
See Similar DealsMultiFamily1 SF
Financed 04/04/2025
FINANCED
Rockledge Property Group Secures $35 Million Refinance Loan For Multifamily Asset In Montclair, NJ
36 Hawthorne Place
See Similar DealsMultiFamily1 SF
Financed 04/04/2025
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$35,000,000
Total Square Footage:1 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 36 Hawthorne Place in Montclair, NJ. The loan amount secured for this property is $35,000,000, which is being utilized for refinancing purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Landlord: Rockledge Property Group
- Brokers: Simon Rosenfeld - Meridian Capital Group
- Loan Type: Refinance
- Transaction Date: 04/04/2025
Simon Rosenfeld from Meridian Capital Group represents the broker side of this transaction, indicating the professional involvement within the financing aspect of the deal facilitated for the landlord, Rockledge Property Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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