Hasbrouck Heights, NJ
Newmark is pleased to present the opportunity to acquire a ~$88.2 million UPB, Loan Portfolio (the “Portfolio”) comprised of seven (7) assets, ~$12.6 million AVG UPB, with collateral in NJ (40%), NY (38%), PA (12%), and MN (10%).
The Portfolio includes two (2) senior hospitality loans with a total principal balance of $35.4 million (40% of UPB), and five (5) senior retail loans with a total principal balance of $52.8 million (60% of UPB). The Loans feature 3.75% WAC, 85% LTV, and 2/10/25 WAM. Additionally, there are two (2), two-asset each, retail relationships representing 38% and 10% of total UPB respectively.
The asset mix consists of five (5) Performing (62% of UPB I 3.55% WAC I 73% LTV I September 2023 maturity), one (1) Sub-performing (17% of UPB I 3.86% coupon I 94% LTV I April 2027 maturity) and one (1) Non-performing (21% of UPB I 154% LTV).
The Collateral includes two (2) commercial property types i.e. hospitality and retail. The largest concentration is in retail (60%).
This is an attractive offering from a regional bank, to be sold on a portfolio, sub-portfolio or individual asset basis.
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