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310 State Highway 35, Red B...

Denholtz Properties Secures $11.4M Loan For Red Bank Office Buildings
FINANCEDOffice

Denholtz Properties Secures $11.4M Loan For Red Bank Office Buildings

310 State Highway 35, Red Bank, NJ, USA

$11,400,000

$144/SF

Building Size

79,022 SF

Asset Type

Office

Closing

Jul 27, 2020

AI

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

Michael Klein

JLL

Broker

$2.6B

vol

77 deals

Broker
Tristate Capital Bank
Tristate Capital BankLender
Steven Denholtz

Steven Denholtz

Denholtz Properties

Landlord

$227.3M

vol

13 deals

Landlord

Red Bank 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

1.39%

Cash-on-Cash

-0.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93