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Eli Rennert And Meir Biegeleisen Of First Commerce Bank Provide $18.38M Construction Loan In Jackson Township

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FINANCED
$18,375,000

New Jersey

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Office75,000 SF
Financed
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FINANCED

Eli Rennert And Meir Biegeleisen Of First Commerce Bank Provide $18.38M Construction Loan In Jackson Township

680 Bennetts Mills Road

See Similar Deals
Office75,000 SF
Financed
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Summary

NEW JERSEY
Asset Type:Office
Price Per Square Foot:$245
Total Square Footage:75000 SF
Transaction Type:Loan

The property asset involved in this transaction is located at 680 Bennetts Mills Road in Jackson Township, NJ. It is categorized as an office asset with a total square footage of 75,000. The loan amount secured for this asset is $18,375,000, which is designated for construction purposes.

Summary of transaction details:

This transaction involves key individuals including lenders Eli Rennert and Meir Biegeleisen, who represent First Commerce Bank. The broker facilitating this deal is Paul Gilbert from Meridian Capital Group, providing essential services in the negotiation and closure of the loan agreement.

Players

Paul Gilbert
12 deals$150.7M volume
BROKER

First Commerce Bank
LENDER

Details

FINANCED
IMAGE: Eli Rennert, Paul Gilbert & Meir Biegeleisen DATE: 01/14/2025 ADDRESS: 680 Bennetts Mills Road MARKET: Jackson Township, NJ ASSET TYPE: Office ~ SF: 75,000 LENDER: Eli Rennert & Meir Biegeleisen - First Commerce Bank (@FirstCommerceBk) BROKER: Paul Gilbert - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $18,375,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,375,000.00

Monthly NOI$122,500.00
Monthly Debt Service$116,142.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00