THG Properties Secures $44.4M Loan For Multifamily Properties In Mahwah, Short Hills, And Westwood, NJ
FINANCED
$44,370,000
New Jersey
See Similar DealsMultiFamily
Financed 12/20/2021
FINANCED
THG Properties Secures $44.4M Loan For Multifamily Properties In Mahwah, Short Hills, And Westwood, NJ
405 Franklin Turnpike, Mahwah, New Jersey 07430, United States
See Similar DealsMultiFamily
Financed 12/20/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The transaction involves a multifamily asset located at 405 Franklin Turnpike, 80 Woodland Rd., and 27-55 Green St. in Mahwah, Short Hills, and Westwood, NJ. The total number of units in this multifamily property is 175, with an acquisition loan amounting to $44,370,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $44,370,000
- Lender: Eric Regenbogen - Arbor Commercial Mortgage
- Landlord: THG Properties
- Broker Representatives: Brad Domenico & Eddie Miro - Progress Capital
- Date: 12/20/2021
The transaction was facilitated by notable brokers Brad Domenico and Eddie Miro from Progress Capital, representing the financial interests in securing the acquisition loan. The lender, Eric Regenbogen from Arbor Commercial Mortgage, was integral to the financing of this deal, reflecting a collaborative effort among all parties involved.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,370,000.00
Monthly NOI$295,800.00
Monthly Debt Service$280,448.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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