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Urban Edge Properties Refinances Bronx Retail Property With $38M Loan
FINANCED
$38,000,000
New York
See Similar DealsRetail
Financed 08/09/2023
FINANCED
Urban Edge Properties Refinances Bronx Retail Property With $38M Loan
1906 Story Ave Bronx, NY 10473, USA
See Similar DealsRetail
Financed 08/09/2023
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
Urban Edge Properties has secured a $38 million debt package to refinance the Bronx retail property known as The Shops at Bruckner located at 1906 Story Avenue. This property is a retail asset in the Bronx market.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $38,000,000
- Lender: Apollo Global Management
- Landlord: Urban Edge Properties
- Brokers: Chris Kramer, Dustin Stolly & Jordan Roeschlaub - Newmark
The loan, provided by Apollo Global Management, will enable Urban Edge Properties to refinance The Shops at Bruckner. This transaction was facilitated by the brokerage team at Newmark, including brokers Chris Kramer, Dustin Stolly, and Jordan Roeschlaub.
Players
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,000,000.00
Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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