Updated Oct 28, 2024
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
About this deal
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.
On the Map
$62,500,000
$97/SF
Retail
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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