Denholtz Properties Secures $11.4M Loan For Red Bank Office Buildings
FINANCED
$11,400,000
+ 1
New Jersey
See Similar DealsOffice79,022 SF
Financed 07/27/2020
FINANCED
Denholtz Properties Secures $11.4M Loan For Red Bank Office Buildings
310 State Highway 35, Red Bank, NJ, USA
See Similar DealsOffice79,022 SF
Financed 07/27/2020
+ 1
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$144
Total Square Footage:79,022 SF
Transaction Type:Loan
The office property located at 310 & 322 Highway 35 S. in Red Bank, NJ has been involved in a recent transaction. The property spans a total of 79,022 square feet.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $11,400,000
- Date of Transaction: 07/27/2021
- Market: Red Bank, NJ
The lender, Tristate Capital Bank, provided a seven-year, fixed-rate loan for the transaction. Denholtz Properties, represented by Steven Denholtz, serves as the landlord of the property. The brokers involved in the deal were Michael Klein, Jon Mikula, and Carlos Silva from JLL Capital Markets.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,400,000.00
Monthly NOI$76,000.00
Monthly Debt Service$72,055.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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