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CBRE Arranges $328M Financing for Jersey City Office Acquisition
CBRE Capital Markets’ Debt & Structured Finance team has arranged $328 million of debt and equity financing for the purchase of 101 Hudson St., a Class A office tower in Jersey City. The CBRE team of Shawn Rosenthal, Jason Gaccione, and Jake Salkovitz facilitated the financing on behalf of the borrower.
The team advised on the assumption of a $250-million CMBS loan and arranged a $78-million preferred equity investment from SKW on behalf of the buyer, a partnership between Mark Meisner of the Birch Group and Abe Greenhut of 2020 Vision. The buyers invested approximately $70 million of common equity.
“The acquisition of large value-add office buildings in the current capital markets is extremely rare and challenging to execute,” said Rosenthal. “It was incredible to be involved with the buyers, who had the determination, focus and expertise to complete this acquisition during these challenging times.”
- ◦Sale/Acquisition
- ◦Financing
