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Minnesota Life Insurance Co. Provides $25M Refinancing Loan For Retail Property In Hoboken

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FINANCED
$25,000,000

New Jersey

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Retail95,688 SF
Financed 05/31/2022
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Property Image
FINANCED

Minnesota Life Insurance Co. Provides $25M Refinancing Loan For Retail Property In Hoboken

900 Madison Street

See Similar Deals
Retail95,688 SF
Financed 05/31/2022
Contact now

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

FINANCED
IMAGE: Thomas Didio & Thomas Didio Jr DATE: 05/31/2022 ADDRESS: 900 Madison St MARKET: Hoboken ASSET TYPE: Retail ~ SF: 95,688 LENDER: Minnesota Life Insurance Co. LANDLORD: Northwest Redevelopment Supermarkets LLC BROKERS: Thomas Didio & Thomas Didio Jr. - JLL (@JLL) LOAN AMOUNT: $25,000,000 LOAN TYPE: Refinancing Loan LOAN TERMS: 10-year term and a fixed interest rate

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Deal Type
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