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:
- 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
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