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| University Square Office Complex, West Windsor, NJ |
NEW YORK, NY – HFF announced today that it has secured $95
million in financing for 1 University Square Drive and 100, 104 and
115 Campus Drive, office properties totaling 465,563 square feet in the University
Square office complex in West Windsor, New Jersey.
Working on behalf of RXR Realty, HFF placed two floating-rate loans with
Bank of America. An $80 million loan
was arranged for 1 University Square Drive and a $15 million loan was arranged
for 100, 104 and 115 Campus Drive. Loan
proceeds are refinancing existing loans on the properties.
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| Michael Tepedino |
The
properties are located within the University Square office complex close to Princeton
University, the Princeton Junction train station and Interstates 95, 195
and 295 along the Route 1 Corridor in West Windsor. Completed in 2008,
1 University Square is a fully leased 328,181-square-foot,
Class A office property. Tenants
include Axis Reinsurance, BlackRock, Mercer and Otsuka Pharmaceutical. The Campus Drive properties are single-story
buildings that are 75 percent leased overall and have a combined square footage
of 137,382 square feet.
The HFF team representing RXR Realty was led by senior managing
director Michael Tepedino.
RXR Realty is one of the premier real estate operators,
developers and investment managers in the New York Tri-State area. RXR Realty and its affiliates, own interests
in 106 operating properties encompassing 18 million square feet of commercial
space in New York City, Long Island, New Jersey, Westchester and Connecticut.
Contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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