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1 Commvault Way

Inspired By Somerset Development Secures $30 Million Loan From Equity Multiple For Office In Tinton Falls
FINANCEDOffice

Inspired By Somerset Development Secures $30 Million Loan From Equity Multiple For Office In Tinton Falls

1 Commvault Way

$30,000,000

$120/SF

Building Size

249,311 SF

Asset Type

Office

Closing

Apr 27, 2025

AI

The property asset involved in this transaction is located at 1 Commvault Way in Tinton Falls. It is an office space with a total square footage of 249,311. The acquired loan amount for this property is $30,000,000, which is categorized as an acquisition loan.

Summary of transaction details:

The key individuals involved in the deal include the lender Equity Multiple and the landlord Inspired by Somerset Development. The brokers representing the transaction are Drew Fletcher, Miryam Reinitz-Kops, Bryan Grover, and Jesse Kopecky from Greystone.

Players

Miryam Reinitz-Kops

Broker

$788.4M

vol

7 deals

Broker
Greystone
GreystoneBrokerage
Inspired by Somerset Development
Inspired by Somerset DevelopmentLandlord

Tinton Falls Office Market Snapshot

Boundary boundary · Office · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93