NEW YORK, NY – HFF announced today that it has secured $11 million in acquisition financing for 2121 State Route 27 (top left photo), a 99,260-square-foot, research and development facility in Edison, New Jersey.
HFF arranged the financing on behalf of AG Net Lease Fund II, an affiliate of Angelo, Gordon & Company. Morgan Stanley Mortgage Capital Holdings LLC provided the 10-year, fixed-rate securitized loan, which will also be serviced by HFF.
2121 State Route 27 is 100 percent occupied by Revlon Consumer Products Corporation, which utilizes the facility as its worldwide research and development center for all of its brands. Revlon has had a presence at the site since the 1950’s.
The property is part of the larger Edison Towne Corporate Centre, a 247,245-square-foot complex located within close proximity to Interstate 287, the New Jersey Turnpike and Garden State Parkway.
The HFF team representing the borrower was led by managing director Evan Pariser (middle right photo) and director Michael Klein (lower left photo).
Angelo, Gordon & Company is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages approximately $24 billion. The firm is currently investing its second dedicated Net Lease fund, the $560 million AG Net Lease Fund II.
Contacts:
EVAN PARISER
HFF Managing Director
(212) 245-2425
MICHAEL KLEIN
HFF Director
(973) 549-2000
KRISTEN M. MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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