S hopping C enters F inancial D igest F eaturing T he L enders D irectory www.marej.com M id A tlantic Real Estate Journal — Financial Digest — Section D Investment expands Cushman & Wakefield’s presence in the multifamily sector Cushman & Wakefield enters into joint venture withGreystone’s agency lending& servicing platform
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firms nationwide. Under the terms of the agreement, Cush- man & Wakefield will make a
with Fannie Mae, Freddie Mac, and HUD. Greystone’s passion and creativity in structuring deals and leveraging its balance sheet for clients are the reasons the firm stands out. This com - bination will demonstrate how global investors can benefit from two industry leaders providing premier investor services and a seamless, integrated client experience.” “Greystone’s mission has always been to provide an un- paralleled client experience, and this deal truly manifests what we hope to achieve in solving for any need of a com- mercial property investor,” said Stephen Rosenberg , founder and CEO, Greystone. “By combining our collective powers and areas of expertise,
I believe there is no reason for an investor to search anywhere else for capital and advisory solutions. I’m thrilled by the potential for growth for both Greystone and Cushman & Wakefield as we work together to deliver on our clients’ goals.” This investment expands Cushman &Wakefield’s pres - ence in the multifamily sec- tor. In early 2020, the firm acquired Pinnacle Property Management Services, LLC, the third-largest multifamily property management firm in the U.S. These investments enable Cushman & Wake- field to provide a complete set of services and expertise throughout every stage of investment in multifamily assets. MAREJ
EW YORK, NY — Cushman & Wake- field , a global real es-
Fannie Mae DUS, Freddie Mac Optigo , and HUD , giving Cushman & Wakefield’s client base more direct access to a broad range of debt products for property acquisition, refinanc - ing or substantial rehab / new construction. In turn, Cushman & Wakefield brings a well- established network of advisory professionals in core markets across the US, enabling both firms, together, to offer com - mercial property investors a holistic, one-stop approach. Cushman & Wakefield’s chief executive, Americas, Andrew McDonald, said, “We’re excited to offer a new integrated capabil- ity to our investor clients with more direct access to Greystone’s balance sheet and capital solu- tions, including debt financing
strategic in- vestment of $500 million to acquire a 40% stake in Greystone’s Agency, FHA and Servicing businesses . Greystone in- tends to use
tate services f i r m , a n d Greystone , a na t i ona l commercial real estate finance com - p a n y , a n - nounce they wi l l en t e r into a strate-
AndrewMcDonald StephenRosenberg
the capital to create innovative product offerings which will position the company for future expansion. The transaction is anticipated to close in Q4 2021, subject to customary closing conditions. Greystone is a top multifam- ily lender, including bridge,
gic joint venture to deliver best- in-class advisory services and capital solutions to existing, joint and new clients of both HI-LIGHTS NOV. 19 - DEC. 23, 2021
Bergman Real Estate Group lands $29.9M loan for 7 Giralda Farms acquisition in NJ
17-20D SPOTLIGHT LENDERS DIRECTORY RCA SECURES $32.55M ACQUISITION BRIDGE LOAN
MADISON, NJ — JLL Cap - ital Markets announced that it has arranged $29.9 million in acquisition financing for 7 Giralda Farms, a three-story, 236,809 s/f, class A office build - ing in Madison,. JLL worked on behalf of the borrower, a joint venture between Bergman Real Es - tate Group and an affiliate of Eightfold Real Estate Capital , to place the four-year, floating-rate bridge loan with Shem Creek Capital . Constructed in 2000, 7 Giral - da Farms features a three-story atrium, flexible floor plates to accommodate large or small users and a full amenity pack- age that includes a full-service fitness center and café, outdoor patio seating, 606 below-grade covered parking and 56 surface parking spaces for visitors. The institutional-quality building is currently 59 percent leased to Prudential Financial and Leo Pharmaceuticals. The borrower plans to imple- ment an aggressive capital improvement plan that will up- date and modernize the build- ing. The plan includes upgrad- ing the lobbies, restrooms, café
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and fitness center, as well as the addition of new amenities. 7 Giralda Farms is situated on 20 acres within the premier Giralda Farms Office Park, a 310- acre campus featuring 1.15 million s/f of office space across seven office buildings. The property is located in the heart of Morris County near Route 24 and Interstates 78 and 287, providing unparal - leled access to the nearby af- fluent communities and variety
of high-end shops and restau- rants. Additionally, the office building is less than 30 miles from New York City. The JLL Capital Markets Debt Placement team repre- senting the borrower was led by senior managing directors Michael Klein and Greg Nal - bandian and Analyst Gerard Quinn . “Our client acquired this off- market transaction at a very attractive basis in the highly
desirable Giralda Farms Of- fice Park,” Nalbandian said. “There was considerable lender interest for this value-add fi - nancing, which demonstrated there is strong liquidity for well-capitalized sponsors with sound business plans.” “Shem Creek Capital did an outstanding job from the onset understanding the opportunity and tailoring the loan to meet the joint venture’s objectives,” Klein added. MAREJ
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PROGRESS CAPITAL ARRANGES $27M ACQUISITION LOAN
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