Tuesday, January 15, 2013

HFF secures $95 million financing for West Windsor, NJ office properties



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.

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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