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Meridian Capital Group arranges $148.8m in Senior and Mezzanine financing Gebroe-Hammer Associates arranges NJ’s largest multi-family sale of 2015

ISSUE HIGHLIGHTS Volume 28 Issue 4 Feb. 26 - March 10, 2016


ount Olive TWP., NJ — Gebroe-Ham- mer Associates of


Livingston, rounded out the 2015 sales year, the best in its 40-year history with the $175 million trade of 1,172 garden- apartment units and an adja- cent 91,330 s/f retail center at Village Green. The brokerage team of Greg Pine , executive vice president; Stephen Tra- gash , senior vice president; and Joseph Brecher , man- aging director, arranged the 76-building mixed-use sale. The firm represented the seller, a private investment group, and the buyer, SDK Apartments , in the transaction. Meridian Capital Group ar- ranged $148.8 million in senior and mezzanine financing for the purchase, on behalf of buyer. The five-year loans, provided by a regional balance sheet lender and a mezzanine lender, feature a blended fixed-rate of 3.67%

Commercial Office Section C

Green Buildings/ Environmental


Village Green Apartments

representing the same sell- er in two additional garden- apartment community sales in North Plainfield and West Orange, for a combined 638 units. The brokerage teams for the two separate transactions included Eli Herskowitz , sales representative, and Brecher , respectively. n

and interest-only payments. This transaction was negotiated by Meridian senior managing director, Abe Hirsch , manag- ing director, Zev Karpel , and VP, Judah Hammer . “Village Green Apartments and Village Green Center are exceptional properties spanning more than 105 acres in Morris

County, a major residential/re- tail/commercial hub,” said Pine. “As part of the thriving Mount Olive/NJ Foreign Trade sub- market, Village Green offered an extremely rare opportunity to acquire a pillar for garden- apartment home communities in Northern NJ.” Pine also was involved in

For speaking and sponsorship information, please contact: Linda at 781-871-3456 or lchristman@marejournal.com April 14, 2016 New Jersey Office Summit April 13, 2016 Philadelphia Real Estate Capital Markets Summit Upcoming Conferences March 18, 2016 2nd Annual NJ Land Development Summit

NJ’s Vision Properties closes 573,053 s/f, five-building office complex totaling $100m+

TAMPA, FL — Vision Properties , a northern NJ based commercial real estate operating partner, has ac- quired a five-building class A office complex consisting of 573,053 s/f along Henderson Rd. This acquisition represents Vision Properties first acqui- sition in Tampa and adds to its existing office portfolio of 5,000,000 rsf. The property


Shopping Centers featuring ICSC Mid Atlantic Conference & Deal Making...............................3-12A Owners, Developers & Managers............... Section B Commercial Office Spotlight ...................... Section C

573,053 s/f along Henderson Rd. acquisitions stated, “The Tampa officemarket has continued to outperform many other office markets around the country with 2.250MM rsf of net absorption since 2011. This can be attributed to the talented labor pool, large tax incentive packages, and low cost of business. The Tampa MSA added 32,900 new jobs in

the last 12 months ending June 2015 and 109,300 jobs in the last five years.” Cushman & Wakefield’s Florida Capital Markets Group consisting of Mike Davis, Michael Lerner and Rick Brugge represented the seller. William Bertolero of Vision Properties will over- see the operations and asset management. n

also has a development pad with an active site permit for an additional office building totaling 111,600 s/f. F red Arena , founder of Vision Prop- erties, expects to break ground within the next 12 months as the Tampa Office market lacks large contiguous blocks of class A vacancy. Anthony Arena , director of

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