Updated Sep 9, 2024
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
About this deal
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.
On the Map
$47,500,000
Office
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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