Facebook Twitter LinkedIn Google Plus RSS

CBRE Group Inc. completes $38 million refinancing for Parsippany property

By ,

Commercial real estate firm CBRE Group Inc. announced Friday that its Debt & Structured Finance team has completed a $38 million refinancing of a fully-leased Parsippany office building.

According to the announcement, The CBRE team of James Gunning, Donna Falzarano and Evan Kleppe, secured a 10-year, $38 million loan at a 5 percent interest rate through Relius Financial, on behalf of the borrower, Jeffroad Green LLC.

The loan was secured by a fully occupied 206,155-square-foot office building at 399 Jefferson Road. Pinnacle Foods and Biomet Spine & Healing Technologies each signed long-term lease, the announcement said.

The announcement said the owner, in securing the leases for the property, also secured approvals for and completed construction of a 28,000-square-foot building expansion. More than $24 million was invested into the tenant spaces.

ALSO ON NJBIZ:

EDA approves $81.9M in incentives for six new projects

Candidate withdrawals set up two-man Newark mayoral race

State officials: Tide has turned for economic development in Camden


Submit a nomination for General Counsel of the Year >

You May Have Missed...

Emily Bader

Emily Bader


Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

close