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1255 Broad Street, Bloomfie...

Natixis Real Estate Capital Provides $35.25M Acquisition Loan For Office Property In Clifton, NJ
FINANCEDOffice

Natixis Real Estate Capital Provides $35.25M Acquisition Loan For Office Property In Clifton, NJ

1255 Broad Street, Bloomfield, NJ, USA

$35,250,000

$940/SF

Building Size

37,478 SF

Asset Type

Office

Closing

Jun 3, 2020

AI

1255 Broad Street in Clifton, NJ, was recently acquired in an office property transaction. The acquisition was financed through a loan provided by Natixis Real Estate Capital. The loan amount was $35,250,000, and the terms of the loan were full term interest-only.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $35,250,000
  • Address: 1255 Broad Street
  • Market: Clifton, NJ

Jared Zimmel from Natixis Real Estate Capital served as the lender for this acquisition loan. The borrower was represented by Brad Domenico of Progress Capital. Brad Domenico played a key role in facilitating the loan and ensuring a successful transaction.

Players

Brad Domenico

Cushman & Wakefield

Broker

$4B

vol

137 deals

Broker

Jared Zimmel

Natixis Real Estate Capital

Lender

$75.3M

vol

2 deals

Lender

Bloomfield Office Market Snapshot

Boundary boundary · Office · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93