Meridian Capital Group Refinances Somerset Financial Center In Somerset, NJ For $47.5M
1405 US Highway 206, Bedminster, New Jersey 07921, United States
$47,500,000
Building Size
—
Asset Type
Office
Closing
Oct 31, 2022
AI
The Somerset Financial Center in Somerset, NJ has undergone a refinancing transaction. The office property located at 1405 US-206 was involved in this deal. The loan amount for this transaction was $47,500,000. The purpose of the loan was to refinance the property.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $47,500,000
- Address: 1405 US-206, Somerset, NJ
- Market: Somerset, NJ
Ronnie Levine, Ben Jacobs, and AJ Bruno from Meridian Capital Group represented the parties involved in this refinancing transaction at the Somerset Financial Center in Somerset, NJ.
Bedminster 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
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93