HFF arranges $31 million financing for 1.1 million SF New Jersey industrial portfolio

Port Newark/Elizabeth

Jon Mikula

FLORHAM PARK, NJ – HFF announced today that it has arranged $31 million in financing for a three-building industrial portfolio comprised of approximately 1.1 million square feet in the northern New Jersey towns of Elizabeth, Edison and Bayonne.

Working on behalf of a joint venture between Cohen Asset Management, Inc. and New York Life Investment Management, HFF placed the seven-year, fixed-rate acquisition loan with Principal Real Estate Investors.  HFF sold the assets to the borrower as part of a larger portfolio in 2012.

The portfolio is 99 percent leased and is within close proximity to Port Newark/Elizabeth, Newark International Airport and major roadways including Interstate 95/The New Jersey Turnpike and Interstates 78 and 287. 

Paul Brindley

 The HFF team representing the borrower was led by senior managing directors Jon Mikula and Paul Brindley.

Established in 1992, Cohen Asset Management, Inc. is a national owner and operator of commercial property with a primary focus on the industrial real estate.  Cohen Asset Management, Inc. is strategically headquartered in Southern California with a regional office in northern New Jersey.

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

Kristen M. Murphy

Associate Director

HFF | One Post Office Square, Suite 3500 | Boston, MA 02109

Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

krmurphy@hfflp.com