BrightSpire Capital Provides $43M Bridge Loan For Jersey City Multifamily Property
FINANCED
$43,000,000
New Jersey
See Similar DealsMultiFamily179,400 SF
Financed 07/23/2020
FINANCED
BrightSpire Capital Provides $43M Bridge Loan For Jersey City Multifamily Property
74 Maple Street, Jersey City, NJ 07304, USA
See Similar DealsMultiFamily179,400 SF
Financed 07/23/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$239
Total Square Footage:179,400 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily located at 74 Maple St in Jersey City, NJ. The deal was closed on 07/23/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Market: Jersey City, NJ
The loan for this transaction was provided by BrightSpire Capital. The loan amount was $43,000,000, and it had a three-year, floating-rate bridge loan term. The property consists of 104 units.
Golden Glades Capital Management is the landlord for this property. The brokers involved in this transaction were Matthew Pizzolato & Thomas E. Didio Jr. from JLL Capital Markets.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$43,000,000.00
Monthly NOI$286,666.67
Monthly Debt Service$271,789.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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