HAB Bank Provides $4.375M Refinance Loan For Retail Property In Budd Lake Owned By Ahmed Hidais
61 International Drive
$4,375,000
$91/SF
Building Size
48,000 SF
Asset Type
Retail
Closing
Oct 16, 2024
AI
The property asset involved in this transaction is a retail space with a square footage of 48,000 located at 61 International Drive in the Budd Lake market. The loan amount for this refinance transaction is set at $4,375,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,375,000
- Address: 61 International Drive
- Market: Budd Lake
- Asset Square Footage: 48,000
- Lender: HAB Bank
- Landlord: Ahmed Hidais
- Broker: Joseph Hach - Leviathan
- Loan Type: Refinance
Key individuals involved in this deal include Ahmed Hidais as the landlord and Joseph Hach representing the broker agency Leviathan, facilitating the refinance with HAB Bank as the lender.
Players
Budd Lake 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
3.63%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93