Updated Oct 28, 2024
Meridian Capital Group Arranges $18M CMBS Refinance For Retail Properties In Raritan & Union, NJ, Jamaica
2706 US Route 22, Union Township, New Jersey 07083, United States
$18,000,000
$383/SF
Building Size
47,000 SF
Asset Type
Retail
Closing
Nov 18, 2021
About this deal
AI
The retail property located at 401 NJ-28, 2706 Route 22, and 162-24 Jamaica Avenue in Raritan & Union, NJ, and Jamaica has undergone a CMBS refinance. The property spans approximately 47,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $18,000,000
- Loan Type: CMBS Refinance
Icer Properties, represented by Joseph Jemal, is the landlord of this retail property. The brokers involved in the deal are Cary Pollack and Judah Neuman from Meridian Capital Group.
The retail loan at 2706 US Route 22, Union Township, New Jersey 07083, United States in Union, New Jersey financed for $18M in 2021. The building is 47,000 square feet, implying about 383 per square foot on the published price. Judah Neuman, Cary Pollack, Joseph L. Jemal, Meridian Capital Group appear on the loan alongside Meridian Capital Group. This page is the Union, New Jersey file for the 2706 US Route 22, Union Township, New Jersey 07083, United States retail financed: pricing, party profiles, and other closed retail comps from the same Union sit in the Market section below. Filter that Union retail set by closing date to see what else financed near 2706 US Route 22, Union Township, New Jersey 07083, United States around 2021. Published consideration for 2706 US Route 22, Union Township, New Jersey 07083, United States is $18M, dated 2021. Cite this Meridian Capital Group Arranges $18M CMBS Refinance For Retail Properties In Raritan & Union, NJ, Jamaica loan when underwriting similar retail product around Union, New Jersey.
Players
Union Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93