HFF arranges $7.2M financing for Summit Medical Arts Building in central New Jersey

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged $7.2 million in financing for Summit Medical Arts Building, (top right photo) a 50,728-square-foot, Class A medical office building in Hillsborough, New Jersey.

Working exclusively on behalf of Summit Beacon Realty Associates I, LLC, HFF senior managing director Tony Cuccia (bottom left photo) placed the five-year, fixed-rate first mortgage with TriState Capital Bank of Lawrenceville, New Jersey. Summit Beacon Realty Associates I, LLC is a joint venture between Summit Associates Inc. and The Beacon Medical Realty Group.

Summit Associates Inc. and Beacon Medical Realty Group are New Jersey-based real estate developers that have built, as well as own and manage over 4.5 million square feet of office, hi-tech and distribution space throughout the state.

The Beacon Medical Realty Group has been active in the ownership and leasing of medical office facilities throughout New Jersey, Pennsylvania and New York

The Summit Beacon Medical Arts Building is located at 105 Raider Boulevard in Hillsborough’s Route 206 corridor, approximately 40 miles west of New York City. The property has 12 office suites that are occupied by medical and professional tenants including University Radiology Group, ID Care Associates and Skin Laser and Surgery Specialists of NY and NJ.

CONTACTS:

Anthony M. Cuccia, HFF Senior Managing Director, 973 549 2000, acuccia@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com