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
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