Updated Dec 26, 2024
Jeremy Levart & Mark Meisner Of Oak Funding Provide $40.5 Million Bridge Loan To Signature Acquisitions
300 Kimball Drive
$40,500,000
$93/SF
Building Size
432,030 SF
Asset Type
Office
Closing
Dec 19, 2024
About this deal
AI
The property is an office asset located at 300 Kimball Drive in Parsippany, featuring a total square footage of 432,030. The transaction involved a loan amounting to $40,500,000, categorized as a bridge loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40,500,000
- Loan Type: Bridge
- Lender: Jeremy Levart & Mark Meisner - Oak Funding
- Landlord: Signature Acquisitions
Key individuals involved in the transaction include lenders Jeremy Levart and Mark Meisner from Oak Funding, who played a critical role in facilitating the bridge loan to the landlord, Signature Acquisitions.
Players
Parsippany Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.39%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93