Updated May 27, 2025
Meridian Capital Group Arranges $5.46M Loan For Columbia Medical Center Acquisition In Florham Park
128 Columbia Turnpike
$5,460,000
$278/SF
Building Size
19,620 SF
Asset Type
Office
Closing
May 19, 2025
About this deal
AI
The property involved in this transaction is a 19,620 square foot medical office building known as Columbia Medical Center, located at 128 Columbia Turnpike in Florham Park. The loan amount secured for its acquisition is $5,460,000, with First Commerce Bank serving as the lender.
Summary of transation details:
- Property Type: Office
- Transaction Amount: $5,460,000
- Address: 128 Columbia Turnpike
- Market: Florham Park
- Lender: First Commerce Bank
- Loan Type: Acquisition
The deal was brokered by Paul Gilbert and Meir Bienenfeld, both representatives from Meridian Capital Group, who successfully arranged the financing to enable the acquisition of the property.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93