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Robert C. Baker Of National Realty And Development Corp. Secures $13M Loan For Kohl’s Plaza In Holmdel
FINANCED
$13,000,000
New Jersey
See Similar DealsRetail184,063 SF
Financed
FINANCED
Robert C. Baker Of National Realty And Development Corp. Secures $13M Loan For Kohl’s Plaza In Holmdel
2145 New Jersey Highway 35
See Similar DealsRetail184,063 SF
Financed
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$70
Total Square Footage:184063 SF
Transaction Type:Loan
The property involved in this transaction is Kohl’s Plaza, a retail shopping center located at 2145 Route 35 in Holmdel, New Jersey. The asset spans 184,063 square feet and is fully leased, featuring a variety of retailers and service operators.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $13,000,000
- Loan Terms: 10-year, 30-year amortization
- Landlord: Robert C. Baker - National Realty and Development Corp.
- Broker: Andrew Stewart - Cronheim Mortgage
Cronheim Mortgage arranged the permanent loan for National Realty & Development Corp., facilitating financing backed by life insurance for the shopping center, which includes tenants like Ocean State Job Lot, Wells Fargo, and 7-Eleven.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,000,000.00
Monthly NOI$86,666.67
Monthly Debt Service$82,168.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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