RealINSIGHT Marketplace and Cushman & Wakefield are pleased to present the opportunity to acquire a non-performing commercial mortgage loan with an outstanding balance of $35,300,213 as of June 1, 2018 (the “Note” or “Loan”). The Note is secured by a 224,313 square-foot, single tenant, suburban executive office building located in Bridgewater, NJ (the “Property”).
The Property was delivered in 1988 and was renovated in 1996, the building is situated on a +/- 53 acre condominium site along Interstate 287. The building, part of a two building condominium with unimproved land, represents approximately an undivided ~48% interest.
Per a pending Survey update, the collateral building represents condminium Unit 1 which is situated on 1.72 acres. Condominium Unit 2 is improved and is situated on 0.7311 aces. Condominum Unit 3 is unimproved and encompasses the remaining 50.2885 acres.
The three-story building has visibility from I-287 with convenient regional access. The Property is currently 100% leased by the Tenant who has been in occupancy since 1991.
Prospective investors are afforded a unique opportunity to acquire this $35.3 million non-performing loan following a maturity default in March 2017. A hard lockbox is in place and the Lender has taken prudent steps to protect its rights of remedy by filing foreclosure proceedings with District Court of New Jersey.
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.
Platform fee for this transaction is 5.00% or a minimum of $25,000.