Printer Friendly

CBRE team lands $60M for Aviation Plaza deal.

James Gunning and Donna Falzarano of CB Richard Ellis Debt & Equity Finance procured the financing with Principal Real Estate Investors on behalf of Millbrook Properties for Aviation Plaza, a 445,208 s/f retail Power Center located at US Route 1&9 and Stiles Street in Linden, New Jersey.

"We delivered the most competitive terms available," stated Gunning. "The lender provided flawless execution which is essential for a 1031 exchange and borrower received some interest only and a sub 6% coupon."

The team provided Millbrook properties with permanent financing for $60 million dollars at an interest rate of 5.96%.

Situated on Route l&9, Aviation Plaza is a retail power center consisting of nine freestanding buildings.

The center was built in 2002 and expanded between 2005 and 2007.
COPYRIGHT 2008 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:FINANCE; CB Richard Ellis Debt & Equity Finance
Comment:CBRE team lands $60M for Aviation Plaza deal.(FINANCE)(CB Richard Ellis Debt & Equity Finance )
Publication:Real Estate Weekly
Article Type:Brief article
Date:Sep 17, 2008
Previous Article:Cronheim arranges financing for 3 NYC office buildings.
Next Article:HFF closes retail refi.

Related Articles
CBRE forms new specialty finance company.
$87m Florida office deal inked.
CBRE vet closes 500,000 s/f in deals during 2005.
CBRE / Melody.
CBRE / Melody.
Meritage likes Rhode Island stats.
Mack-Cali bridges building expansion with upgrades.
CBRE Hotels adds debt and equity finance team.
CBRE Hotels forms Debt & Equity Finance Group.
Milbrook Properties buys LI's Aviation Plaza for $92m.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters