$7.23 Million UPB Loan | High-Yield Mortgage

Investment Highlights

Above Market Coupon: Rare 6.72% fixed coupon offering attractive yield.
Leverage Level: Very low current basis at ~$37 PSF. 
Lien Position: Investors have the opportunity to acquire a Mortgage Loan presenting exceptional security via the first position, guaranty of payment and performance, and associated rights.
Time: The Loan features 162 M seasoning and ~18 M remaining.
Unmatched Location: The collateral is located along the Rt. 42 retail corridor in Washington Township, a strong retail node with numerous shopping centers.  It is the first center located along Route 42 after it splits from the Atlantic City Expressway.

Investment Summary

Newmark and Marketplace are pleased to present the opportunity to acquire a $7.23 Million senior mortgage loan (the “Loan”) secured by a retail community shopping center located in Washington Twp, NJ (the “Collateral” or “Property”). The Loan, originated on January 9, 2008 and maturing on February 1, 2023, carries an above-market 6.72% fixed coupon.  

The Collateral is a 200,061 SF shopping center on 25 acres, anchored by Burlington Coat  Factory and LA Fitness dba Esporta Fitness (new brand launched in the fall of 2020). The remaining roster is comprised of Bear Paddle Swim School, TGI Friday’s, Police & Fire Federal Credit Union, and La Belle Vie Salon. 

Strategically located with substantial frontage along Black Horse Pike (Route 42) which features 49,000 ADT, the Property is the first center after the road splits from the Atlantic City Expressway.  The Route 42 corridor in Washington Twp is a strong retail node with numerous shopping centers, hotels and restaurants.

This opportunity presents investors with the ability to acquire an attractive, low-leverage ($37 PSF), high-yielding performing loan secured by an exceptional retail asset.