Bank Of Montreal & 3650 REIT Provide $183.75M Fixed-Rate Acquisition Financing For Office Building In Hoboken, NJ
111 River Street, Hoboken, New Jersey 07030, United States
$183,750,000
$329/SF
Building Size
558,000 SF
Asset Type
Office
Closing
Apr 17, 2023
AI
Located at 111 River Street in Hoboken, NJ, this office property spans a total of 558,000 square feet. The transaction took place on 01/21/22.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $183,750,000
- Address: 111 River Street, Hoboken, NJ
- Market: Hoboken, NJ
- Lender: Bank of Montreal & 3650 REIT
- Brokers: Drew Anderman & Eddie Haber - Meridian Capital Group
- Loan Type: Acquisition
- Loan Terms: Fixed-Rate Acquisition Financing
The loan for this acquisition was provided by Bank of Montreal and 3650 REIT. Representing the parties involved in the deal were Drew Anderman & Eddie Haber from Meridian Capital Group.
Players
Hoboken 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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93