Provident Bank Provides $62.5M Refinance Loan For 644K SF Retail Property In Linden
FINANCED
$62,500,000
New Jersey
See Similar DealsRetail644,000 SF
Financed 06/22/2022
FINANCED
Provident Bank Provides $62.5M Refinance Loan For 644K SF Retail Property In Linden
601 West Edgar Road, Linden, New Jersey 07036, United States
See Similar DealsRetail644,000 SF
Financed 06/22/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$97
Total Square Footage:644,000 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$62,500,000.00
Monthly NOI$416,666.67
Monthly Debt Service$395,042.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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