Basis Investment moves fast to fund $59M BHN acquisition loan.
Cushman & Wakefield served as the exclusive advisor to an affiliate of BHN Associates LLC in arranging $58.75 million of acquisition financing secured by Two Tower Center Boulevard.
The property is a 23-story class-A, institutionally maintained office building located in East Brunswick, New Jersey. The three-year financing was provided by Basis Investment Group.
Two Tower Center is a 405,597 s/f, granite clad trophy office building with 16 office floors that sit above a parking structure.
The property is located directly off of exit 9 on the New Jersey Turnpike and has best in class amenities including a full service dining facility, 24/7 security, covered parking, a five story atrium, and a PNC bank branch.
Additionally, the property is adjacent to a 405 room Hilton Hotel which has a full service restaurant, convention space, and spa.
A Cushman & Wakefield Equity, Debt & Structured Finance team of John Alascio, John Spreitzer and Andre Hass, served as exclusive advisors on this transaction.
"This is considered the premier office building in this submarket. The property benefits from unparalleled recognition and access off of the New Jersey Turnpike and as such offered a lender a combination of diverse tenancy with credit and term to support the loan request," said Alascio, a Cushman & Wakefield Managing Director.
"Basis understood that this was a rare chance to finance such a building and facilitated a loan in an expedited time frame where other lenders could not meet the request and working needs of BHN."
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|Comment:||Basis Investment moves fast to fund $59M BHN acquisition loan.|
|Publication:||Real Estate Weekly|
|Date:||Dec 9, 2015|
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