CBRE Arranges $107M for Two Riverfront Buy

CBRE Capital Markets’ Debt & Structured Finance team arranged for $107.3 million in financing on behalf of Kuwait-based KFH Capital Investment Co. The funds were used to acquire the 337,543-square-foot Two Riverfront Plaza, in Newark, NJ, which is Panasonic Corp. of North America’s headquarters. The buyer paid $165 million to SJP Properties and Matrix Development Group.

James Gunning, Donna Falzarano and Stephen Joseph of CBRE’s Saddle Brook, NJ office secured a competitive loan provided by Ladder Capital. Two Riverfront is 100% occupied by Panasonic through April 2031. The lender accommodated the borrower’s financing objectives, despite the post-election lending climate.

Two Riverfront Plaza is in close proximity to Manhattan, which ended up attracting many potential buyers, according to the Wall Street Journal.

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