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350 Mount Kemble Ave, Morri...

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

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

Solomon Kinraich

MLK Real Estate Capital

Broker

$45.9M

vol

2 deals

Broker
Thorofare Capital
Thorofare CapitalLender

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