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HFF Lines Up Permanent Financing for Meadowlands Industrial
HFF has arranged the $36.72-million permanent financing from Allianz Real Estate of America for a newly constructed, two-building industrial facility totaling 240,317 square feet at One County Rd. in Secaucus, NJ. The HFF team worked on behalf of the borrower, Bhasin Properties, to place the 15-year, fixed-rate loan, which takes out existing construction debt that was also arranged by HFF.
The HFF debt placement team representing the borrower included senior managing director Jon Mikula.
“One County Road is an example of the tremendous demand for industrial space in the Meadowlands,” Mikula said. “Over the course of the lease-up, rents grew almost 30%.” The property was completed earlier this year.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing