Minnesota Life Insurance Co. Provides $25M Refinancing Loan For Retail Property In Hoboken
FINANCED
$25,000,000
New Jersey
See Similar DealsRetail95,688 SF
Financed 05/31/2022
FINANCED
Minnesota Life Insurance Co. Provides $25M Refinancing Loan For Retail Property In Hoboken
900 Madison Street
See Similar DealsRetail95,688 SF
Financed 05/31/2022
Summary
NEW JERSEY
Asset Type:Retail
Price Per Square Foot:$261
Total Square Footage:95,688 SF
Transaction Type:Loan
Located at 900 Madison St in Hoboken, this retail property spans over 95,688 square feet. The transaction took place on 05/31/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $25,000,000
- Lender: Minnesota Life Insurance Co.
- Landlord: Northwest Redevelopment Supermarkets LLC
- Brokers: Thomas Didio & Thomas Didio Jr. - JLL
The loan for this property was provided by Minnesota Life Insurance Co. The loan amount was $25,000,000 and it was a refinancing loan. The loan terms included a 10-year term and a fixed interest rate.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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