FINANCED
RGA Reinsurance Co. Provides $11M Permanent Loan For Retail Property In Boonton
550 Myrtle Avenue
Retail
62,740 SF
62,740 SF
Financed 1 year ago
Summary
Loan
NEW JERSEY
Retail
62,740 sqft
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.
Players
All
3
Agents
2
Agencies
1
Details
FINANCED
IMAGE: Dev Morris & Andrew Stewart
DATE: 08/29/2022
ADDRESS: 550 Myrtle Ave
MARKET: Boonton
ASSET TYPE: Retail ~ SF: 62,740
LENDER: RGA Reinsurance Co.
LANDLORD: Urstadt Biddle Properties Inc.
BROKERS: Dev Morris & Andrew Stewart - Cronheim Mortgage
LOAN AMOUNT: $11,000,000
LOAN TYPE: Permanent Loan
LOAN TERMS: 10-year loan that amortizes over 30 yearsView on map
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Address550 Myrtle Avenue
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