$25m financing for NJ offices.The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of office of HFF HFF Hochschule für Fernsehen und Film München (Germany) HFF Heartland Film Festival HFF Hardy Fern Foundation HFF Half Forward Flank (football position) HFF Horizontal Flute Factor (Holliday Fenoglio Fowler, L.P.) announced that it secured a $25 million first mortgage financing for Rockaway 80, a 260,186 s/f, Class A office building in Rockaway, New Jersey
Rockaway is a borough in Morris County, New Jersey, USA. As of the United States 2000 Census, the borough population was 6,473. . HFF director Steven Klein and senior managing director Michael Tepedino represented the borrower, an affiliate of Grosvenor Investment Management (GIM a. 1. Neat; spruce. ), in arranging the floating-rate loan through MassMutual. GIM is the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. fund management subsidiary of the London-based Grosvenor Group The Grosvenor Group is a property company which is privately owned by the Duke of Westminster, who is the third wealthiest man in the United Kingdom after Lakshmi Mittal and Roman Abramovich. Ltd. Rockaway 80 has seven stories of office space plus a full-service cafeteria, ATM, picnic area and a two-level, 883-space parking structure. Originally completed in 1991 and renovated in 2006, the property features a reflective glass facade with granite accents, a lobby with two-story atrium and interior appointments of granite, mahogany and brass. Rockaway 80 is 77% leased to tenants including Warner Chilcott Warner Chilcott (formerly Galen) is a Northern Irish pharmaceutical company. It is primarily focused on two core therapeutic areas: women’s healthcare and dermatology. The company has 930 employees in Ireland, the UK, USA and Puerto Rico. , Reed Elsevier, Prudential Insurance, Hartford Insurance and Edy's Ice Cream. Located at 100 Enterprise Drive, the property is approximately eight miles west of the intersection of Interstates 80 and 287 in Rockaway. "Rockaway 80 benefits from a strategic location between Exits 34 and 35 of Interstate 80 providing excellent highway access," said Klein. "This location also offers corporate tenants a unique combination of outstanding corporate amenities and close proximity to a growing population base." "We were very pleased with both HFF and MassMutual's professionalism and execution in such a turbulent capital markets environment," added Eric Cannon, associate director of acquisitions for GIM. Grosvenor is a privately owned property group with offices in 17 of the world's most dynamic cities. The company has five regional investment and development businesses in Britain & Ireland, the Americas, Continental Europe, Australia and Asia Pacific. Grosvenor's international fund management business operates across all of these regions. |
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