Updated Dec 4, 2024
Prime Group Holdings Secures $31.5M Refinance Loan For Industrial Properties In Highbridge, Bronx
950 University Avenue
$31,500,000
Building Size
—
Asset Type
Industrial
Closing
Jan 8, 2024
About this deal
AI
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.
On the Map
$31,500,000
Industrial
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Players
Bronx Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93