Updated Dec 4, 2024
Gloucester Town Center Secures $8.12M Mortgage Loan From Citigroup
509 Berlin-Cross Keys Road & 543 Berlin-Cross Keys Road
$8,120,000
$40/SF
Building Size
100,000 SF
Asset Type
Retail
Closing
Oct 17, 2023
About this deal
AI
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.
On the Map
$8,120,000
$40/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.95%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93