Updated Aug 13, 2026
Longpoint Partners Acquires Retail Asset In Bedminster For $50,000,000 On 12/10/2024
550 Hills Drive
$50,000,000
Units
110,453
Asset Type
Retail
Closing
Dec 10, 2024
About this deal
AI
The property asset involved in the transaction is a retail space located at 550 Hills Drive in Bedminster, NJ. The retail unit encompasses a total area of 110,453 square feet and has an overall transaction price of $50,000,000.00.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $50,000,000.00
- Address: 550 Hills Drive
- Market: Bedminster, NJ
- Units: 110,453
- Buyer: Longpoint Partners
Longpoint Partners acted as the buyer in this transaction, completing the acquisition on December 10, 2024. The details of the transaction were facilitated without the involvement of additional brokers or representatives mentioned in the context.
Players
Bedminster Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93