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Gloucester Town Center Secures $8.12M Mortgage Loan From Citigroup

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FINANCED
$8,120,000

New Jersey

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Retail200,000 SF
Financed 10/17/2023
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Property Image
FINANCED

Gloucester Town Center Secures $8.12M Mortgage Loan From Citigroup

509 Berlin-Cross Keys Road & 543 Berlin-Cross Keys Road

See Similar Deals
Retail200,000 SF
Financed 10/17/2023
Contact now

Summary

NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$40
Total Square Footage:200,000 SF
Transaction Type:Loan

A $8.12 million mortgage loan has been obtained by Gloucester Town Center, a retail property located at 509-543 Berlin-Cross Keys Road in Sicklerville, New Jersey. The shopping center spans across an area of 100,000 square feet and is fully leased with notable tenants such as Acme Markets, Dollar Tree, Supercuts, AT&T, Pizza Hut, and Mavis Discount Tires.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $8,120,000
  • Address: 509-543 Berlin-Cross Keys Road
  • Market: Sicklerville
  • Loan Amount: $8,120,000
  • Lender: Citigroup
  • Brokers: Andrew Eisen & Jeremy Nussbaum - Walker & Dunlop
  • Loan Type: Refinance
  • Loan Terms: fixed-rate, interest-only

The mortgage loan for Gloucester Town Center was provided by Citigroup. Handling the deal on behalf of the property's owners, Andrew Eisen and Jeremy Nussbaum from Walker & Dunlop served as the brokers involved in the transaction.

Players

Jeremy Nussbaum
2 deals$13.3M volume(201) 366-8040
BROKER

Andrew Eisen
Walker & Dunlop
1 deal$8.1M volume
BROKER

Citibank
LENDER

Details

FINANCED
IMAGE: Andrew Eisen & Jeremy Nussbaum DATE: 10/17/2023 ADDRESS: 509-543 Berlin-Cross Keys Road MARKET: Sicklerville ASSET TYPE: Retail ~ SF: 100,000 LENDER: Citigroup (@Citi) BROKERS: Andrew Eisen & Jeremy Nussbaum - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $8,120,000 LOAN TYPE: Refinance LOAN TERMS: fixed-rate, interest-only NOTE: Gloucester Town Center in Sicklerville, New Jersey, has obtained an $8.12 million mortgage loan from Citigroup. The shopping center is fully leased with notable tenants, including Acme Markets, Dollar Tree, Supercuts, AT&T, Pizza Hut, and Mavis Discount Tires.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$8,120,000.00

Monthly NOI$54,133.33
Monthly Debt Service$51,323.92
Change in Cash Flow$0.00
Refinance Proceeds$0.00