Real Estate Weekly
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Debt & Equity

Normandy, Greenfield Partners land $81M loan for NJ office tower

Normandy Real Estate Partners and Greenfield Partners have secured $80.7 million of financing for Center 78 located at 184 Liberty Corner Road in Warren, New Jersey.

Photo by khrawlings/ Flickr
Photo by khrawlings/ Flickr

Cushman & Wakefield served as the exclusive advisor on the 10-year, fixed rate financing, which was was provided by Natixis Real Estate Capital.

Cushman & Wakefield negotiated loan proceeds , an interest only period and competitive reserve structuring, all of which fulfilled the Sponsor’s needs.

Center 78 is a 369,797 s/f institutional quality office building situated on a 47-acre site in Somerset County, New Jersey. Having recently undergone a complete building renovation, Center 78 has LEED Gold certification, a new landscape design, amenity package, and proximity to dining, entertainment, hotels, and lifestyle services.

A Cushman & Wakefield Equity, Debt and Structured Finance team of John Alascio and Sridhar Vankayala represented Normandy in the transaction.

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