RGA Reinsurance Co. Provides $11M Permanent Loan For Retail Property In Boonton

550 Myrtle Avenue, Boonton, New Jersey 07005, United States

$11,000,000

$175/SF

Building Size

62,740 SF

Asset Type

Retail

Closing

Aug 28, 2022

AI

The retail property located at 550 Myrtle Ave in Boonton has been involved in a closed transaction. The property spans an area of 62,740 square feet and is owned by Urstadt Biddle Properties Inc.

Summary of transaction details:

Property Type: Retail
Transaction Amount: $11,000,000
Date: 08/29/2022
Address: 550 Myrtle Ave
Market: Boonton

The loan for this property was provided by RGA Reinsurance Co. The loan amount was $11,000,000, and it was a permanent loan with a term of 10 years. The loan amortizes over 30 years.

The deal was facilitated by Cronheim Mortgage brokers Dev Morris and Andrew Stewart, who represented the parties involved in the transaction.

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