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Prime Group Holdings Secures $31.5M Refinance Loan For Industrial Properties In Highbridge, Bronx

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FINANCED
$31,500,000

New York

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Industrial
Financed 01/08/2024
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FINANCED

Prime Group Holdings Secures $31.5M Refinance Loan For Industrial Properties In Highbridge, Bronx

950 University Avenue

See Similar Deals
Industrial
Financed 01/08/2024
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Summary

NEW YORK
Asset Type:Industrial
Transaction Type:Loan

Prime Group Holdings, represented by signatory Robert J. Moser, secured a $31.5 million refinance loan from Societe Generale for five industrial properties, including the industrial building at 950 University Avenue in Highbridge, Bronx. The loan was used to refinance the existing debt on the properties.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $31,500,000
  • Lender: Justin Cappuccino - Societe Generale
  • Landlord: Robert J. Moser - Prime Group Holdings
  • Property Address: 950 University Avenue, Highbridge, Bronx
  • Market: Highbridge, Bronx

Justin Cappuccino from Societe Generale served as the lender for this refinance loan. Robert J. Moser, the landlord and representative of Prime Group Holdings, facilitated the transaction. The refinance loan was secured for a portfolio of five industrial properties, demonstrating the confidence in the investment potential of the Bronx industrial market.

Players

Drew Anderman
39 deals$5.2B volume
BROKER

Societe Generale
LENDER

Robert Moser
9 deals$813.9M volume
LANDLORD

Details

FINANCED
IMAGE: Robert J. Moser DATE: 01/08/2024 ADDRESS: 950 University Avenue MARKET: Highbridge, Bronx ASSET TYPE: Industrial LENDER: Justin Cappuccino - Societe Generale (@SocieteGenerale) LANDLORD: Robert J. Moser - Prime Group Holdings (@PrimeStorage) LOAN AMOUNT: $31,500,000 LOAN TYPE: Refinance NOTE: Prime Group Holdings, represented by signatory Robert J. Moser, secured a $31.5 million refinance loan from Societe Generale for five industrial properties, including the industrial building at 950 University Avenue in Highbridge, Bronx.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$31,500,000.00

Monthly NOI$210,000.00
Monthly Debt Service$199,101.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00