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| Jon Mikula |
FLORHAM PARK, NJ - HFF announced today that it has secured
$47.5 million in financing for 412 Mt. Kemble Avenue, comprising three
interconnected office buildings totaling 477,843 square feet in Morris
Township, New Jersey.
HFF placed the three-year, floating-rate loan with Colony
Mortgage Capital and CorAmerica.
Keystone Property Group, which acquired the property through a joint
venture with Mack-Cali Realty Corporation, plans to make capital improvements
to the buildings to enhance their competitive distinction in the Morristown
submarket.
Originally built in 1985, 412 Mt. Kemble Avenue is conveniently
located in the northern New Jersey office market on Route 202, less than three
miles from Interstate 287, providing easy access to New York City, Philadelphia
and the surrounding markets.
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| Jim Cadranell |
The HFF debt placement team was led by senior managing
director Jon Mikula, managing director Jim Cadranell and
associate director Andrew Roland.
“We were excited to be a part of such an important
transaction for the Keystone team,” said Mikula.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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