Cushman & Wakefield served as exclusive advisor to an affiliate of Alfred Sanzari Enterprises in arranging a $32 million non-recourse financing for Glenpointe Centre West, an office property in the Glenpointe Complex in Teaneck, NJ.
The 12 year fixed-rate financing was provided by AXA Equitable Life Insurance Company through its advisor, Quadrant Real Estate Advisors. Glenpointe Centre West consists of 333,000 s/f of Class-A office space and is 99.5 percent occupied.
The entire Glenpointe Complex is considered one of New Jersey’s pre-eminent mixed-use developments with approximately 650,000 ss/f of cutting-edge, headquarters quality office space, a full-service 345-room Marriott Hotel and Conference Center, a state-of-the-art spa and fitness center, and enclosed parking garage.
David Schaiman, managing director of Cushman & Wakefield’s Equity, Debt & Structured Finance group represented an affiliate of Alfred Sanzari Enterprises.
Said Schaiman, “The quality of the product and the borrower enabled us to obtain a 12 year loan with terms reflecting today’s advantageous borrower market.”