Bergman Real Estate Group & Eightfold Real Estate Capital Acquires Office In Madison For $29.9M
FINANCED
$29,900,000
New Jersey
See Similar DealsOffice236,809 SF
Financed 10/15/2021
FINANCED
Bergman Real Estate Group & Eightfold Real Estate Capital Acquires Office In Madison For $29.9M
7 Giralda Farms
See Similar DealsOffice236,809 SF
Financed 10/15/2021
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$126
Total Square Footage:236,809 SF
Transaction Type:Loan
The property involved in this closed transaction is an office building located at 7 Giralda Farms in Madison. The property spans a total of 236,809 square feet. It was acquired through an acquisition loan.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $29,900,000
- Address: 7 Giralda Farms, Madison
- Market: Madison
- Loan Amount: $29,900,000
The lender in this transaction is Shem Creek Capital. The property is owned by Bergman Real Estate Group and Eightfold Real Estate Capital, with Jerome Bergman representing them. The brokers involved in the deal are Michael Klein, Greg Nalbandian, and Gerard Quinn from JLL Capital Markets. The loan is a four-year, floating-rate loan provided for the acquisition of the property.
Players
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$29,900,000.00
Monthly NOI$199,333.33
Monthly Debt Service$188,988.34
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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