Natixis Bank Provides $197M Acquisition Loan For Office Building In Jersey City
FINANCED
$197,000,000
New Jersey
See Similar DealsOffice432,000 SF
Financed 02/24/2022
FINANCED
Natixis Bank Provides $197M Acquisition Loan For Office Building In Jersey City
70 Hudson Street
See Similar DealsOffice432,000 SF
Financed 02/24/2022
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$456
Total Square Footage:432,000 SF
Transaction Type:Loan
The recent closed transaction involves an office property located at 70 Hudson Street in Jersey City, NJ. The property spans an area of 432,000 square feet and was acquired through an acquisition loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $197,000,000
- Address: 70 Hudson Street, Jersey City, NJ
- Market: Jersey City, NJ
- Lender: Natixis Bank
- Landlord: Vision Properties - Fred Arena
- Broker: Brad Domenico - Progress Capital
Beyond the property details, the deal involved several key individuals and companies. Natixis Bank provided the acquisition loan, while the landlord, Vision Properties, was represented by Fred Arena. Brad Domenico of Progress Capital acted as the broker in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$197,000,000.00
Monthly NOI$1,313,333.33
Monthly Debt Service$1,245,174.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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