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Marketplace Listing - Retail

$100MM Nonperforming Loan

Northern New Jersey, NJ

Unlisted

Asking Price:
  • Asset Type
  • Note
  • Property Type
  • Retail
  • Loan Count
  • 1
  • Anchor
  • No

$100MM Nonperforming Loan Sale

CBRE's National Loan & Portfolio Sale Advisors has been retained to act as the exclusive advisor for the sale of a $100,000,000 nonperforming mortgage loan secured by approximately 1,000,000 square foot portion of a 1,580,000 square foot regional mall and medical office complex located in Northern New Jersey. The collateral totals nearly 93-acres of underlying land.

We anticipate indicative bids to be submitted on May 6, 2021.

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I N V E S T M E N T   H I G H L I G H T S
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Dominant Mall / Major Retail Hub / Critical Mass - The collateral is located approximately 50 miles from New York City and occupies the trade area’s top retail corridor. The mall features three leading national anchors, a multiplex IMAX theater, and highly sought after pad sites leased to creditworthy tenants.

Medical Office Buildings Under Construction - Two new class “A” medical office buildings are currently under construction with over 100,000 square feet pre-leased under a long-term ground lease, adding a valuable additional demand driver and the potential for a near-term monetization opportunity.

Approvals for Mixed-Use Redevelopment - The loan’s collateral consists of approximately 93-acres of underlying land, with in-place approvals for over 600 units of multifamily development to supplement the existing improvements to create a mixed-use “live, work and play” environment.

Fast Growing Trade Area / Affluent Demographics - The trade area population within a 10-mile radius currently is estimated at over 335,000 people, 131,000 households, with an average household income of $146,600. As of 2020, the median home value in the area is estimated to be in excess of $463,000.

Diverse Rent Roll & Leasing Upside - The center has a highly diversified rent roll with over 100 tenants and wide-ranging sources of revenue. Potential investors may have an opportunity to apply the property's strong in-place cashflow as a bridge to increase occupancy and reposition the property.

Strategic Value Add Opportunity - The offering provides investors a unique opportunity to acquire the note, pursue lender’s rights and potentially obtain title to the property at well below replacement cost, including in-place improvements and infrastructure.

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Click Here to Review and Electronically Execute the Confidentiality Agreement
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Download Offering Memorandum

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Unlisted

Asking Price:

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