Rubenstein Mortgage Capital Provides $57M Loan For Morris Plains Office Property
115 Tabor Road, Morris Plains, NJ, USA
$57,000,000
$122/SF
Building Size
465,000 SF
Asset Type
Office
Closing
Jan 18, 2021
AI
The office property located at 115 Tabor Road in Morris Plains was involved in a recent transaction. The property has a total area of 465,000 square feet and sits on a 40-acre plot of land.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $57,000,000
- Date: 01/19/2021
- Address: 115 Tabor Road
- Market: Morris Plains
- Square Footage: 465,000
- Acres: 40
The loan for this transaction was provided by Rubenstein Mortgage Capital, with Andrew Murray and Fred Harmeyer as the representatives. The landlord of the property is Argent Ventures.
Players
Morris Plains 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93