$7.5M Mezz Loan Seals Deal at Hopewell Corporate Campus

Investors paid $73.6 million to buy three buildings with a total of 306,534 square feet of Class-A office space at the Hopewell Corporate Campus (pictured) in Hopewell, NJ. The buyers financed the deal with a $51.4 million first mortgage loan and $15.6 million in equity capital.

To finish off the financing, they took out a $7.5 million mezzanine loan originated by InPoint Commercial Real Estate Income, a commercial mortgage real estate investment trust sub-advised by an affiliate of Sound Point Capital Management.

“InPoint’s origination focused investment strategy, combined with the Sound Point team’s deep origination relationships, provides an opportunity for InPoint to make loans backed by high-quality properties owned by experienced managers,” said Don MacKinnon, president of InPoint.

The three buildings are 100% leased to five tenants, with an average lease term of approximately 13 years.

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