The Birch Group Secures $27.1M Loan In Morristown From Thorofare Capital
350 Mount Kemble Ave, Morristown, N...
$27,100,000
Building Size
—
Asset Type
Office
Closing
Apr 5, 2018
AI
The property at 350 Mount Kemble Ave, Morristown, NJ, was involved in a recent transaction. The asset, an office property, was the subject of a loan amounting to $27,100,000.00. The borrower, The Birch Group, secured this loan through Thorofare Capital, with the representation of borrower's rep, Solomon (Sol) Kinraich from MLK Real Estate Capital.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,100,000.00
- Address: 350 Mount Kemble Ave, Morristown, NJ
- Market: Morristown
The key individuals involved in this deal were The Birch Group as the borrower, Thorofare Capital as the lender, and Solomon (Sol) Kinraich from MLK Real Estate Capital serving as the borrower's representative. The transaction, which took place on 04/05/2018, showcases the active participation of these entities in the Morristown office property market.
Players
Morristown 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93