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Hinchliffe Stadium, Paterso...

Updated Feb 16, 2024

Goldman Sachs And U.S. Bancorp Community Development Corporation Provide $94M Loan For Hinchliffe Stadium In Paterson, NJ
FINANCEDOther

Goldman Sachs And U.S. Bancorp Community Development Corporation Provide $94M Loan For Hinchliffe Stadium In Paterson, NJ

Hinchliffe Stadium, Paterson, NJ, USA

$94,000,000

Building Size

Asset Type

Other

Closing

Jun 3, 2020

About this deal

AI

Hinchliffe Stadium, located in Paterson, N.J, was involved in a closed transaction on 06/03/2021. The stadium is an asset type of a stadium. The deal included a loan of $94,000,000.

Summary of transaction details

  • Property Type: Stadium
  • Transaction Amount: $94,000,000
  • Address: Hinchliffe Stadium, Paterson, N.J
  • Market: Paterson, N.J

The lender in this deal was Goldman Sachs, represented by Daniel Alger, along with US Bank and U.S. Bancorp Community Development Corporation, represented by Steve Kramer. The landlord consists of BAW Development, represented by Baye Adofo-Wilson, and RPM Development Group, represented by Joe Portelli.

Players

U.S. Bank
U.S. BankLender

Paterson 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

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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