Inspired By Somerset Development Secures $30 Million Loan From Equity Multiple For Office In Tinton Falls
FINANCED
$30,000,000
+ 1
New Jersey
See Similar DealsOffice249,311 SF
Financed 04/27/2025
FINANCED
Inspired By Somerset Development Secures $30 Million Loan From Equity Multiple For Office In Tinton Falls
1 Commvault Way
See Similar DealsOffice249,311 SF
Financed 04/27/2025
+ 1
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$120
Total Square Footage:249,311 SF
Transaction Type:Loan
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:
- Property Type: Office
- Transaction Amount: $30,000,000
- Lender: Equity Multiple
- Landlord: Inspired by Somerset Development
- Brokers: Drew Fletcher, Miryam Reinitz-Kops, Bryan Grover & Jesse Kopecky - Greystone
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
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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