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.


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


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

Post Comment
View Comment Policy


Subscribe to Our Newsletters!
Click Here to Subscribe for Free Now!