HFF secured a $10.5 million refinancing for 180-188 Mt. Airy Road, a two-building office property in Basking Ridge, NJ.
Working on behalf of Lincoln Property Company, HFF placed the five-year, floating-rate loan with OceanFirst Bank. Loan proceeds will be used to retire existing debt and return equity to the partnership.
180-188 Mt. Airy Road in an area known as the state’s “Wealth Belt” along Interstate 78. The properties are 95 percent leased to tenants that include Montgomery Academy, The Learning Experience, Integrated Device Technology and Mt. Airy Associates.
The HFF team was led by director Michael Klein and associate director Andrew Roland.