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The Birch Group Secures $27.1M Loan In Morristown From Thorofare Capital

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FINANCED
$27,100,000

New Jersey

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Office
Financed 04/05/2018
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FINANCED

The Birch Group Secures $27.1M Loan In Morristown From Thorofare Capital

350 Mount Kemble Ave, Morristown, N...

See Similar Deals
Office
Financed 04/05/2018
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Summary

NEW JERSEY
Asset Type:Office
Transaction Type:Loan

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

Solomon (Sol) Kinraich
2 deals$45.9M volume(212) 871-3782
BROKER

Thorofare Capital
LENDER

Details

FINANCED
IMAGE: 04/05/2018 ADDRESS: 350 Mount Kemble Ave, Morristown, N... MARKET: Morristown ASSET TYPE: Office BORROWER'S REP: Solomon (Sol) Kinraich(MLK Real Estate Capital) BORROWER: The Birch Group LENDER: Thorofare Capital LOAN AMOUNT: $27,100,000.00

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,100,000.00

Monthly NOI$180,666.67
Monthly Debt Service$171,290.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00