Columbia Bank Refinances $20.3M Loan For 6-Property Portfolio In Jersey City, NJ
FINANCED
$20,320,000
New Jersey
See Similar DealsMultiFamily
Financed 05/19/2022
FINANCED
Columbia Bank Refinances $20.3M Loan For 6-Property Portfolio In Jersey City, NJ
Jersey City, New Jersey, United States
See Similar DealsMultiFamily
Financed 05/19/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Loan
A 6-property portfolio in Jersey City, NJ, consisting of multifamily assets, has recently undergone a refinancing transaction. The loan was provided by Columbia Bank, with a total amount of $20,320,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,320,000
- Address: 6-Property Portfolio
- Market: Jersey City, NJ
Kathy Anderson and Caillin Boles from Progress Capital represented the borrowers as brokers in this refinancing deal.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,320,000.00
Monthly NOI$135,466.67
Monthly Debt Service$128,436.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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