Updated Sep 5, 2024
Meridian Capital Group Arranges $18.5M Refinance Cash Out Loan For Bayonne NJ Multifamily Portfolio
Bayonne, New Jersey, United States
$18,500,000
Units
125
Asset Type
MultiFamily
Closing
Jun 13, 2022
About this deal
AI
The Bayonne NJ Multifamily Portfolio, located in Bayonne, NJ, has recently undergone a refinancing cash-out loan transaction. The loan amount secured for this multifamily property portfolio is $18,500,000. The loan terms include a 5+5 loan term, with a 3.30% interest rate and 24 months of interest-only payments.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $18,500,000
- Units: 125
- Market: Bayonne, NJ
The brokers involved in this transaction were Judah Hammer and Daniel Neiss, representing Meridian Capital Group.
Players
Bayonne MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93