Knighthead Funding Provides $31M Loan For Office Building At 1085 Morris Avenue In Union
FINANCED
$31,000,000
New Jersey
See Similar DealsOffice210,000 SF
Financed 08/18/2022
FINANCED
Knighthead Funding Provides $31M Loan For Office Building At 1085 Morris Avenue In Union
1085 Morris Avenue, Union, New Jersey 07083, United States
See Similar DealsOffice210,000 SF
Financed 08/18/2022
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$147
Total Square Footage:210,000 SF
Transaction Type:Loan
An office property located at 1085 Morris Avenue in Union has been recently involved in a closed transaction. The property spans a total area of 210,000 square feet and is situated in the Union market.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $31,000,000
- Address: 1085 Morris Avenue, Union
- Market: Union
- Asset Type: Office
- Square Footage: 210,000
Knighthead Funding, LLC, represented by Brian Sullivan & Jonathan Daniel, acted as the landlord in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$31,000,000.00
Monthly NOI$206,666.67
Monthly Debt Service$195,941.09
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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