11-25-16

Real Estate Journal — November 25 - December 8, 2016 — 3A

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M id A tlantic R eal E state J ournal $12.4m acquisition loan and a $6.6m refinance Deerwood Capital closes $19 million in loans in Freehold F

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REEHOLD, NJ — DeerwoodReal Estate Capital , a commercial real estate advisory firm based in Englewood Cliffs, NJ, closed a $12.4 million acquisition loan with a national non-recourse bridge lender and a $6.6 mil- lion refinance with a local bank. The deals, negotiated by Deerwood’s Yaakov Leiser , include a 200,000+ s/f multi- tenant office park and a 60,000 s/f multi-tenant office building, both located in Freehold, NJ. The proceeds of the refinance were used for the acquisition. The borrower is a new client for Deerwood and was very sat- isfied with the deals facilitated by Deerwood. n EAST ORANGE, NJ — Lee & Associates of New Jersey recently announced the sale and leaseback of 310 Central Ave. in East Orange. Peter Rasmusson, CCIM of the firm’s Elmwood Park office represented the buyer, Global Medical REIT. The seller of the property, Prospect Medical Holdings, master leased the 68,000 s/f building for an undisclosed term. The sale price was ap- proximately $12 million. “There was a great deal of

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Office building in Freehold, NJ

Lee & Associates of NJ announces $12m sale and leaseback

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The Mid Atlantic Real Estate Journal is a monthly publication highlighting real estate transactions throughout the Mid Atlantic including : • New developments, ground breakings and reconstruction in the ODM (Owners, Managers & Contractors ) section • Mortgage and banking in our Financial Digest • Retail and new developments in Shopping Centers • Annual spotlights. Medical REIT totaling nearly $31 million —including medi- cal buildings in South Dakota, Ohio and New J rsey— i s larg- est spending spree since going public in July, when it raised a total of $150 million in its IPO. The modern three-story ad- joins the mai campus of East Orange General Hospital. The building houses more than a dozen different medical prac- tices, and the hospital also utilizes por ions of the buildi g for its lab, wound center and dialysis center. n

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310 Central Ave.

interest by our investors in this asset,” said Rasmusson. “The sale underscores the robust- ness of the sale and leaseback market, especially in the medi- cal sector.” The purchase is part of a string of acquisitio s for Global

Linda Christman, CEO/Publisher Mid Atlantic Real Estate Journal 312 Market Street • Rockland, MA 02370 P: 781-871-5298 | F: 781-871-5299

• Region specific news and spotlights in our Pennsylvania and New Jersey sections IOREBA’s Fall event brings crowdfunding experts to the table WEST ORANGE, NJ — The Industrial and Office Real Estate Brokers As- sociation of the New York Metropolitan Area (IOREBA) recently hosted its Fall Kick- Off Event to a group of in- dustry experts eager to learn about the night’s topic: Crowd- funding for Commercial Real Estate. try are much different from a typical Kickstarter platform, which deals in products rather than in equity, and are essen- tial online marketplaces for owners and investors. “These platforms allow you talk directly to investors, and I like that,” said Cassidy. “Investors; however, are not typically real estate investors, making them sometimes slow to make decisions. But, in the long run, if you don’t use these platforms in our industry, I think you will be left behind,” he added.

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“Essentially, we are do- ing marketing for real estate companies—bringing sponsors and investors together and helping them get access to equity,” commented Esquivel. “Historically, real estate pro- fessionals have a county club mentality, but with these new platforms we are assisting them in expanding their net- works,” he added. “It is a very transparent technology,” added Florent. “All of your real estate docu- ments are online, and owners and investors can see what is going on at all times.” Steven Cassidy shared that his company is entering into its third crowdfunding invest- ment, and just last year raised about $800,000 in equity on a crowdfunding platform, which helped acquire and reposition an office building in Florida.

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Crowdfunding is slowly emerging as a new technology platform for real estate invest- ment firms. Panelists agreed that it hasn’t yet caught the at- tention of large businesses and that the concept needs more exposure and belief amongst potential users. “It is on companies like us that are using crowdfunding, to perform and show our in- dustry that it works, and when the big guys see the results they will see that it is great to have another line of equity for deals,” said Bogart. “So far, we’ve had moderate success in this sector. In the long-term, I feel like it is going to be a great vehicle for us,” he added. n

Moderated by Greg Brown , managing di rector , NAI DiLeo-Bram & Co. , the pan- el featured commercial real estate crowdfunding experts William Florent , founder of Selequity and Brian Es- quivel , director of invest- ments at Realty Shares ; along with commercial real estate veterans who have had recent success in using these platforms, Stephen Cassidy , president of Denholtz Asso- ciates ; and Jason Bogart , owner of Accordia Realty Ventures . There is amystery surround- ing crowdfunding and how it works. The platforms for the commercial real estate indus-

• Brokered Transactions • New Services/Products • Projects Completed or Underway • Expert Articles • Appointments, Promotions, & Honors • Events • Mergers & Acquisitions • Financing Deals

The Mid Atlantic Real Estate Journal welcomes all editorial dealing with the commercial/industrial real estate industry. P.O. Box 26 • Accord, MA 02018 (mailing) 312 Market St. • Rockland, MA 02370 (overnight) e-mail editor@marejournal.com www.marejournal.com 781-871-5298 781-871-5299 fax Mid Atlantic Real Estate Journal

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