Rampulla, Levy and Wellschlanger of JLL broker transaction Finmarc Management acquires 15 ind. properties comprisingmore than 750,000 s/f

ISSUE HIGHLIGHTS Volume 29, Issue 7 March 24 - April 13, 2017


The SoMa Redevelopment Project encompasses over 15 million s/f of development ca- pacity within a 23-acre area southwest of Market St. The SoMa Master Plan developed by renowned architect Rich- ard Meier and Ron Beit strives to create a place in downtown Newark that brings a mix of daytime and night- time users to the urban core by encouraging rehabilitation, and new residential and retail development in the center of the city. Specifically, it calls for the emergence of distinct new neighborhoods consisting of thousands of residential units, hotels, retail districts, diverse uses connected via vibrant, walkable and active streets, and development that lever- ages mass transit. The project is in close prox- imity to University Heights, Rutgers University-Newark, Rutgers University Medical School, NJIT, and Essex Coun- ty College. Positioned between Interstates I-78 and I-280, SoMa is easily accessible to commuters. n critical mass of this portfolio, coupled with our long-term optimism of the industrial and warehouse sector given the recent explosion of the e-com- merce industry and accompa- nying expansion of same-day or next-day delivery models,” explained Marc Solomon , a principal of Finmarc. “There continues to be an enormous appetite among companies to maintain large distribution centers near major population centers to achieve its logistics objectives. This acquisition was completed below replace- ment cost.” According to John De- tleff , senior vice president at JLL Mid Atlantic who will be managing leasing activities, “Featherstone Industrial Park has enjoyed historically high occupancy due to its ceiling heights, truck radius and heavy industrial zoning. n

IRGINIA — Finmarc Management, Inc. , a Bethesda, Maryland-


Newark, NJ — The Sing- er & Bassuk Organization LLC (SBO) , a boutique real estate finance intermediary has arranged a total of $27.5 million in financing for af- filiates of RBH Group LLC in Newark. The loans include a $25 million first mortgage land loan from an affiliate of Knighthead Funding LLC covering several future devel- opment parcels in the area south of Market St. (SoMa) in based commercial real estate firm, has announced the ac- quisition of a fifteen-building portfolio comprised of more than 750,000 s/f of industrial and warehouse space situ- ated along the I-95 corridor in Northern Virginia from Stewart Investment Company for $58 million. The portfolio, contained primarily within the Featherstone Industrial Park in Woodbridge, and also including a property in Fred- ericksburg, features more than twenty-five tenants and is presently 91% leased. Marc Rampulla, Mark Levy and Jay Wellschlanger of JLL were the brokers of record in this transaction. With this acquisition, Fin- marc currently owns and man- ages more than 90 office,

2017 Walter R. Cohn, Esq. Memorial EXPO 7-20A

I-95 Corridor In Virginia

flex, industrial and retail properties as well as sev- eral residential projects in the Mid-Atlantic area, totaling 6.6 million s/f of space. Known as the Mid-Atlantic I-95 Corridor portfolio, the site encompasses fifty-eight acres and is considered among the

largest industrial parks in the Northern Virginia region. Featherstone Industrial Park accounts for 40% of all ware- house and distribution space in the Prince William East submarket which is cumula- tively 94% leased. “We were attracted to the


Upcoming Conferences April 26 New Jersey Office Summit April 27 Philadelphia Capital Markets Summit May 10 Pittsburgh Capital Markets Summit For more information, please contact: Linda at 781-740-2900 or lchristman@marejournal.com

The Singer & Bassuk Organization arranges $27.5m in financing for RBHGroup in Newark

South of Market St. (SoMa) aerial


downtown Newark, as well as a simultaneously-funded $2.5 million second mortgage from Prudential Impact Investments Mortgage Loans, LLC covering the 909 Broad St. development in Newark. The Singer & Bassuk Orga- nization LLC serves as global Real Estate Finance Advisor to RBH Group. Scott Singer , president, and Jeffrey Mo- roch , managing director led SBO’s efforts in the transaction. Laurie Grasso of Hunton & Williams LLP and Leah Sandbank of McManimon,

Scotland & Baumann, LLC served as lead borrower coun- sel. RBH Group is chaired by president and CEO Ron Beit , and the lead financial investors within RBH Group’s SoMA Newark Development Project are Goldman Sachs Urban Investment Group, Nicolas Berggruen , the founder and president of Berggruen Hold- ings and the Berggruen In- stitute, Frederick Iseman, CI Capital Partners, and Warren Lichtenstein, Steel Partners.

Shopping Centers.............................................5-13A Owners, Developers & Managers............... Section B Best of 2016............................................... Section C

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