Amherst Capital Management Provides $14.1M Bridge Loan For Princeton Office Building
FINANCED
$14,138,000
New Jersey
See Similar DealsOffice159,227 SF
Financed 02/04/2021
FINANCED
Amherst Capital Management Provides $14.1M Bridge Loan For Princeton Office Building
500 College Rd E, Princeton, NJ, USA
See Similar DealsOffice159,227 SF
Financed 02/04/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$88
Total Square Footage:159,227 SF
Transaction Type:Loan
The recently closed transaction in Princeton involved an office property located at 500 College Rd. East. The asset, spanning across 159,227 square feet, was part of a deal that took place on 02/04/2021.
Summary of transation details
- Property Type: Office
- Transaction Amount: $14,138,000
- Address: 500 College Rd. East
- Market: Princeton
The loan for this transaction was provided by Amherst Capital Management, with Gabe Boyar representing the lending company. The loan amount was $14,138,000, and it had a three-year, floating-rate bridge loan term. Additionally, the landlord involved in this property was Bergman Real Estate Group, Eight Fold Capital, and Hornig Capital Partners. The brokerage team facilitating the deal consisted of Michael Klein, Greg Nalbandian, and Michael Lachs, representing JLL Capital Markets.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,138,000.00
Monthly NOI$94,253.33
Monthly Debt Service$89,361.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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