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| Greg Nalbandian |
MORRISTOWN, NJ– JLL Capital
Markets announced it has arranged $6.3 million in debt financing and $4.4
million in joint venture equity for the acquisition of a
129,600-square-foot industrial building leased to a pharmaceutical company
along with excess land for a future industrial development in the Central New
Jersey communities of Freehold and Howell.
JLL exclusively worked on behalf of Camber Real Estate Partners to
arrange the joint venture equity and acquisition financing with one of its life
insurance company correspondents.
Situated on 42.58 acres, 569 Halls Mill Rd. spans three parcels
split between two Monmouth County communities, Freehold and Howell.
The property is proximate to major thoroughfares
within the region, including the Garden State Parkway, and near a four‐way cloverleaf interchange of Route 33, which
provides direct ingress/egress to New Jersey’s vast highway network.
The existing tenant, a
credit-worthy, publicly traded global pharmaceutical company at the forefront
of COVID-19 testing kits, has been a long-term tenant at the property.
The JLL Capital Markets Debt Placement team representing the
borrower was led by Senior Managing Director Greg Nalbandian.
“Camber acquired this mission-critical warehouse facility
off-market at a very attractive basis,” Nalbandian said. “We were excited to
bring a new and unique capital relationship to our client with one of our life
insurance company correspondents that provided both debt and equity financing
at very attractive terms.”
CONTACT:
Kimberly Steele
JLL
Senior Associate
Public
Relations
Phone: +1 713 852 3420
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