facebook
Traded Co logo
Submit

Harbor Group International & Azure Partners Acquire Multifamily Property In Somerset For $88M

Property Image
FINANCED
$88,000,000
Jamie Leachman
Thomas E. Didio, Jr
Matthew Pizzolato
+ 1

New Jersey

See Similar Deals
MultiFamily1,458 SF
Financed
the dealplayerscompscontact
Property Image
FINANCED

Harbor Group International & Azure Partners Acquire Multifamily Property In Somerset For $88M

500 Bristol Boulevard, Somerset, NJ, USA

See Similar Deals
MultiFamily1,458 SF
Financed
Jamie Leachman
Thomas E. Didio, Jr
Matthew Pizzolato
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$60356
Total Square Footage:1458 SF
Transaction Type:Loan

The multifamily property located at 500 Bristol Boulevard in Somerset recently underwent a closed transaction. The property consists of 384 units and was the subject of a loan provided by Freddie Mac Optigo. The loan amount for this transaction was $88,000,000, with a term of 10 years and a floating-rate.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $88,000,000
  • Address: 500 Bristol Boulevard
  • Market: Somerset
  • Units: 384

The landlords involved in this transaction are Harbor Group International and Azure Partners. The brokers who represented the parties in this deal were Jamie Leachman, Matthew Pizzolato, Amit Kakar, and Thomas E. Didio, Jr. from JLL Capital Markets.

Players

Amit Kakar
JLL
Amit Kakar
8 deals$513.4M volume
BROKER
Matthew Pizzolato
CBRE
Matthew Pizzolato
34 deals$1.4B volume(908) 720-0342
BROKER
Thomas E. Didio, Jr
JLL
Thomas E. Didio, Jr
43 deals$2.9B volume
BROKER
Jamie Leachman
JLL
Jamie Leachman
14 deals$1.2B volume
BROKER
Harbor Group International
Harbor Group International
LANDLORD
AP
Azure Partners
LANDLORD

Details

FINANCED
IMAGE: Jamie Leachman, Matthew Pizzolato, Amit Kakar, & Thomas E. Didio, Jr. DATE: 01/11/2021 ADDRESS: 500 Bristol Boulevard MARKET: Somerset ASSET TYPE: Multifamily UNITS: 384 LENDER: Freddie Mac Optigo LANDLORD: Harbor Group International & Azure Partners BROKERS: Jamie Leachman, Matthew Pizzolato, Amit Kakar & Thomas E. Didio, Jr. - JLL Capital Markets LOAN AMOUNT: $88,000,000 LOAN TERMS: 10-year, floating-rate loan

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$88,000,000.00

Monthly NOI$586,666.67
Monthly Debt Service$556,219.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00