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| West Ridge Corporate Center, One Industrial Way West, Eatontown Business Park, Eatontown, NJ |
FLORHAM PARK, NJ –
Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $10 million
refinancing for West Ridge Corporate Center, a 113,715-square-foot, office/flex
campus in Eatontown, New Jersey.
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| Michael Klein |
Working on behalf of the
borrower, Bollerman Real Estate Services, Inc., HFF placed the 10-year,
fixed-rate loan with Principal Commercial Capital, a lending platform jointly
formed by Macquarie Group and Principal Real Estate Investors.
Loan proceeds were used to refinance an
existing loan on the property.
West Ridge Corporate
Center is located at One Industrial Way West within the Eatontown Business
Park.
The five-building, office/flex complex is located just west of Route 35,
one mile south of its intersection with Route 36 and less than three miles from
Interchange 105 of the Garden State Parkway and Route 18.
The property, which was
constructed in 1983 and purchased by Bollerman in 2004, is currently 96 percent
leased.
The HFF debt placement
team representing Bollerman was led by director Michael Klein.
“Bollerman was seeking a
long term loan that would enable them to take advantage of low interest rates
in arguably a soon to be rising interest rate environment,” said Klein. “Principal understood the submarket and the
short term leases associated with this product type and was able to provide a
loan that best met Bollerman’s needs.”
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
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