Morningstar DBRS assigns A (low) rating to Camelot at Perth Amboy mortgage loan
A new credit assessment underscores lender confidence in a New Jersey multifamily property tied to Camelot at Perth Amboy. The mortgage loan carries a 4.00% rate and matures on March 1, 2055, linking the rating to a long-dated residential real estate asset in the Perth Amboy market.
Highlights
- Morningstar DBRS assigns an A (low) rating with Stable trend to the 4.00% Mortgage Loan due March 1, 2055 for Camelot at Perth Amboy.
- The $14.1 million loan, secured by a 117-unit multifamily asset valued at $19.2 million, carries a loan-to-value ratio of 73.4%.
- Property metrics include 94.5% occupancy as of December 2025, a debt service coverage ratio of 1.7 times, and a debt yield of 9.2%.
Loan profile and property fundamentals
As reported by Morningstar DBRS, DBRS, Inc. assigns a credit rating of A (low) with a Stable trend to the 4.00% Mortgage Loan due March 1, 2055, made to Camelot at Perth Amboy.The loan is secured by the fee-simple interest in a 117-unit garden-style multifamily property on a 3.57-acre site at 365 Lehigh Avenue in Perth Amboy, New Jersey. The asset sits about five miles west of Staten Island and around 30 miles southeast of New York City, with nearby residential development supported by retail and commercial corridors along New Brunswick Avenue, Amboy Avenue, and Smith Street.
Built in 2010, the property includes five three-story walk-up apartment buildings with attached garages. The unit mix consists of 45 one-bedroom apartments and 72 two-bedroom apartments, while interior features include hardwood floors, stainless-steel appliances, in-unit washers and dryers, walk-in closets, and private balconies or patios.
Cash flow metrics and market positioning
Morningstar DBRS says the rating reflects a loan-to-value ratio of 73.4%, based on its concluded property value of $19.2 million, along with strong operating performance and stable, predictable cash flow. The agency also cites a debt service coverage ratio of 1.7 times, a debt yield of 9.2%, and an amortizing structure with a current balance of $14.1 million as of May 2026.As of the rent roll dated December 1, 2025, the property is reported to be 94.5% occupied. The rating agency also points to qualitative support from cash flow volatility, property quality, and market fundamentals, as well as the asset's access to the Perth Amboy commuter train station and surrounding road networks.
Our earlier coverage of rising mortgage delinquencies in early 2026 noted that overdue home loans increased in most states as higher borrowing costs and other housing expenses strained household budgets. The report highlighted sharp quarter-to-quarter jumps in delinquency counts in Vermont, Delaware, and Louisiana, while a few states such as Wyoming saw declines—underscoring how uneven regional housing stress has become.
Latest LEG Immobilien News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
