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.
On the Map
$5,460,000
$278/SF
Office
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Players
Florham Park Office Market Snapshot
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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