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128 Columbia Turnpike

Meridian Capital Group Arranges $5.46M Loan For Columbia Medical Center Acquisition In Florham Park
FINANCEDOffice

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

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.

Players

Paul Gilbert

Meridian Capital Group

Broker

$150.7M

vol

12 deals

Broker

Florham Park 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

2.91%

Cash-on-Cash

-0.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93