Updated Sep 5, 2024
Cross River Provides $60M Loan For Medical Facility In Secaucus, NJ
55 Meadowlands Parkway, Secaucus, NJ 07094
$60,000,000
$68/SF
Building Size
871,200 SF
Asset Type
Other
Closing
Aug 18, 2020
About this deal
AI
A $60 million loan was secured for a medical facility located at 55 Meadowlands Pkwy in Secaucus, NJ. The property boasts 204 beds and is owned by Yan Moshe.
Summary of transaction details:
- Property Type: Medical Facility
- Transaction Amount: $60,000,000
- Address: 55 Meadowlands Pkwy, Secaucus, NJ
- Market: Secaucus, NJ
The loan for the medical facility was provided by Cross River, with Doug Esposito and Raina Yoo representing the lender. Meridian Capital Group, specifically Jake Handelsman, Ari Adlerstein, Ari Dobkin, Josh Simpson, and David Gottlieb, acted as the brokers in the transaction.
Players
Secaucus Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93