Wednesday, March 20, 2013

HFF secures first mortgage financing for two industrial assets in northern New Jersey



9-15 Riverside Drive, Pine Brook, NJ
FLORHAM PARK, NJ – HFF announced today that it has secured first mortgage financing for 9-11 Chapin Road and 9-15 Riverside Drive, two industrial assets totaling 156,835 square feet in Pine Brook, New Jersey.

                Working exclusively on behalf of The Frassetto Companies, Inc., HFF placed the 10-year, fixed-rate loan with a local community bank.

                9-11 Chapin Road and 9-15 Riverside Drive are located off Route 46 near the intersection of Interstates 80 and 287 in the northeastern portion of Morris County, New Jersey.  The properties are fully leased to multiple tenants.

Michael Klein
The HFF team representing The Frassetto Companies, Inc. was led by director Michael Klein and senior managing director Tom Didio.

                “Local banks in the northern New Jersey market continue to be extremely competitive on pricing, proceeds and structure for industrial transactions,” said Klein.  “In this instance the bank stacked up quite favorably against life insurance companies and CMBS providers and was awarded the deal accordingly.”

Thomas Didio
 The Frassetto Companies, Inc. is a family-owned and operated full-service commercial real estate firm that specializes in the acquisition, development and management of commercial real estate properties.  

The Bergen County, New Jersey-based company currently owns and operates over two million square feet of commercial space throughout the New Jersey/New York metropolitan region.

For a complete copy of the company’s news release, please 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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