Friday, July 4, 2008

HFF Secures $7M Financing for Grand Plaza in Englewood, NJ


FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it secured $7 million in financing for Grand Plaza, (above centered photo) a four-story office building in downtown Englewood, New Jersey.

Working exclusively on behalf of Monarch Realty Corp., HFF senior managing director Thomas Didio (top right photo) placed the 10-year, fixed-rate first mortgage loan with Columbia Bank. Established in 1949, Monarch Realty Corp. is a real estate brokerage, development and property management company.

Grand Plaza is located at 106 Grand Avenue close to the New Jersey Turnpike and the George Washington Bridge, three miles west of New York City in Englewood, New Jersey. The property has 53,625 square feet of office and street-level retail space that is 91% occupied primarily by medical tenants from the nearby Englewood Hospital.
A parking deck in the rear of the building has 144 covered spaces and 73 surface spots.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.
CONTACTS:
Thomas R. Didio, HFF Senior Managing Director, 973 549 2000, tdidio@hfflp.com
Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

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