Provident Bank Provides $62.5M Refinance Loan For 644K SF Retail Property In Linden
601 West Edgar Road, Linden, New Jersey 07036, United States
$62,500,000
$97/SF
Building Size
644,000 SF
Asset Type
Retail
Closing
Jun 21, 2022
AI
The property involved in this closed transaction is a retail asset located at 601 W Edgar Rd in Linden. The property spans a total area of 644,000 square feet and is owned by Milbrook Properties, Ltd.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $62,500,000
- Loan Type: Refinance
- Loan Terms: 4.15% fixed rate for 7 years
The loan for this transaction was provided by Provident Bank. Altman Warwick, represented by Robert Altman, served as the broker for the deal.
Players
Linden 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93