THG Properties Acquires Multifamily Properties In Mahwah, Short Hills, And Westwood, NJ For $44.4M
FINANCED
$44,400,000
New Jersey
See Similar DealsMultiFamily
Financed 11/30/2021
FINANCED
THG Properties Acquires Multifamily Properties In Mahwah, Short Hills, And Westwood, NJ For $44.4M
405 Franklin Turnpike, Mahwah, NJ, USA
See Similar DealsMultiFamily
Financed 11/30/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily property located at 405 Franklin Turnpike, 80 Woodland Road, and 27-55 Green Street in Mahwah, Short Hills, and Westwood, NJ, has been involved in a recent loan transaction. The property encompasses a total of 175 units and spans across 9.8 acres.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $44,400,000
- Lender: Arbor Commercial Mortgage
- Landlord: THG Properties
- Broker: Brad Domenico - Progress Capital
- Sale Broker: Nat Gambuzza - CBRE
- Loan Type: Acquisition
The loan amount for this acquisition stands at $44,400,000. The lender involved in this transaction is Arbor Commercial Mortgage. The property's landlord, overseeing the asset, is THG Properties. Brad Domenico from Progress Capital acted as the broker in this deal. Additionally, Nat Gambuzza from CBRE represented the seller in the sale.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,400,000.00
Monthly NOI$296,000.00
Monthly Debt Service$280,638.20
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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