Cushman & Wakefield served as the exclusive advisor to an affiliate of ML7 in arranging an $18 million loan secured by the 750 College Road East, a class-A office building located in Princeton, New Jersey.
The non-recourse, three-year, floating rate financing was provided by Square Mile Capital Management LLC.
The 100,000 s/f, three-story office building, which is situated in the Forrestal Center Office Park in Princeton, was built in 2001. 750 College Road East is located three miles from Princeton University’s primary campus.
The building is fully leased to two tenants and is surrounded by a host of amenities including restaurants and parks.
A Cushman & Wakefield Equity, Debt and Structured Finance team of Gideon Gil, Sridhar Vankayala and Alex Lapidus represented an affiliate of ML7.
“ML7 created significant value by leasing up the building to full occupancy. Square Mile provided a creative funding solution to get the new tenants moved in and through their free rent periods,” noted Gideon Gil, a Cushman & Wakefield managing director.