The loan features a loan-to-value ratio of 75% and a loan-to-purchase price of 80%, according to Koch. It was placed with Bear Stearns, the Wall Street lender that MRG-NJ represents as a preferred originator. A single tenant wholly occupies the property.
The Millburn office of MRG-NJ was opened five years ago to provide financing services for income-producing properties. The office currently represents a dozen national commercial lenders and has closed loans ranging from $1 million to $65 million.
NOT FOR REPRINT
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
