JLL Capital Markets led the $14 million financing efforts for 107 How Lane, a 6.42 Acre, 36.000 SF industrial/ IOS property in New Brunswick, NJ

Michael Klein

 

MORRISTOWN, NJ–  JLL Capital Markets secured the $13.6 million acquisition loan for 107 How Lane, a 35,800-square-foot industrial property on 6.42 acres in New Brunswick, New Jersey.

 JLL worked on behalf of Ridgecut Road to secure the three-year, floating-rate acquisition loan through Byline Bank.

 

The property is comprised of 6.42 acres of outdoor storage and truck parking along with three buildings totaling 10,300 square feet, 19,500 square feet and 9,000 square feet. 

The buildings feature 24- to 28-foot clear heights and 26 dock positions. The property offers tremendous functionality for a deep pool of industrial tenancy with operations ranging from truck/trailer parking to various types of industrial outdoor storage (IOS).

Max Custer 

Located in the heart of the Middlesex submarket, the property offers unmatched access to Northern New Jersey’s transportation network being 35 minutes from the Port of Newark and having direct access to US-1, which connects to I-95. The property is also strategically positioned within four miles of Exit 8A on the NJ Turnpike, making it an ideal choice for accommodating overflow demand from the highly sought-after New Jersey industrial space.

 

The JLL Debt Advisory team was led by Senior Managing Director
Michael Klein, Director Max Custer and Senior Analyst Benjamin Morgenthal.

 

"We are excited to have facilitated the acquisition financing for 107 How Lane in New Brunswick," said Klein. "This property offers exceptional transportation connectivity, specifically tailored to meet the needs of the industrial and trucking sectors. It is a testament to the strength of the market and the value that this property holds."

Benjamin Morgenthal

“We are excited to add this irreplaceable low coverage industrial property to Ridgecut Road's growing portfolio of industrial assets in the New Jersey and New York City market. The property is mission critical real estate that serves as the backbone of our supply chain. It is very difficult to find or develop assets like it today,” added Scott Shalek, Co-Founder and Principal of Ridgecut Road.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

 

 

Contact:

 

 Grace Lewis, JLL PR

Phone: +1 903 520 3478  

Email: grace.lewis@jll.com

jll.com.

JLL arranged the financing for Preserve at Perdido, a newly constructed apartment community in Pensacola, FL

Preserve at Perdido, a 312-unit, Class AA
multi-housing complex in Pensacola, FL
 

CHICAGO, IL –  JLL Capital Markets has arranged the financing for Preserve at Perdido, a 312-unit, Class AA multi-housing complex in Pensacola, Florida. Financial details were not disclosed.

 JLL worked on behalf of the borrower, Graycliff Capital, to secure the seven-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.

 

Trent Niederberger

The loan was secured through the Freddie Mac’s Targeted Affordable Housing program and was one of the first Freddie Mac transactions completed with Florida’s Live Local Act initiative. Also referred to as SB 102, the Live Local Act is a tax incentive program that aims to promote the development of affordable housing in Florida.

Strategically positioned at 2600 S Blue Angel Parkway, Preserve at Perdido offers residents unparalleled access to the region's top employers, including Navy Federal Credit Union, Corry Station, Ascend Performance Materials, Baptist Health Care Corporation and the Pensacola VA Clinic. Each of these esteemed companies employs over 1,000 individuals in the Pensacola area, further enhancing the desirability of the location.

 Danté Thomas

Built in 2022, Preserve at Perdido currently boasts an impressive 93% occupancy rate. .JLL Capital Market’s Debt Advisory team representing the borrower was led by Managing Directors Trent Niederberger and Danté Thomas.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

CONTACT

Gréta Kieras​​​​ Senior Associate, Public Relations JLL Capital Markets 1980 Festival Plaza Drive Suite 250 Las Vegas,  NV  89135 T  +1 949 930 8498 Greta.Kieras@jll.com CA  RE license # 02111877 us.jll.com/capitalmarkets Jones Lang LaSalle Americas, Inc. a licensed real estate brokerage company. ​CA RE license #01223413