F inancial D igest

Real Estate Journal — February 13 - 26, 2015 — 7A


M id A tlantic

HFF secures $65.5 million in financing for a 4-building office park in Florham Park, NJ HFF secures $103m refinancing for a class A office building in downtown Bethesda, MD B

ETHESDA, MD — HFF announced that it has secured a $103 million refinancing for an 11-story, 274,526 s/f office building at 7200 Wisconsin Ave. in downtown Bethesda. Working on behalf of the bor- rower, an affiliate of The JBG Companies, HFF placed the four-year termwith a one year extension option, floating-rate loan with SunTrust Bank . 7200Wisconsin Ave. is locat- ed at the corner of Wisconsin and Bethesda Avenues, one of the most sought-after locations in the Washington, DC metro area. The Bethesda Metro Station (Red Line) is less than a five minute walk from the building, and the property features a 7,000 s/f landscaped plaza that serves as the Wis- consin Ave. entrance. Tenants include Edens, Linowes & Blocher, Singapore Economic Development, University Re- search, Enviva and Stone- bridgeCarras. The HFF debt placement team representing the bor- rower included Sue Carras , Walter Coker , Brian Criv- ella , Neil Campbell and Nicole Snarski . ENGLEWOOD CLIFFS, NJ — Procida ’s 100 Mile Fund recently ended 2014 with over $100 million in closed loans, its best year since inception in 2011. Highlights of the Fund’s 2014 activity include; - A $13 million 1st mortgage bridge loan secured by aMedi- cal health campus known as Kirkbride Medical Center in Philadelphia, PA. - A $3.8 million 1st mort- gage bridge loan secured by a hotel in Bronx, NY. - A $3.85 million 1st mort- gage loan secured by a 100% occupied mixed-use property located in Maplewood, NJ. - A $1.75 million 1st mort- gage acquisition / construc- tion loan for a multi lot sub- division in East Hampton,

Park Place

Florham Park. HFF worked on behalf of the borrower, Normandy Real Estate Partners , to secure the loan with First Niagara Bank and Principal Real Estate Investors . Loan pro- ceeds will be used to retire existing debt, upgrade ameni- ties to meet “Best in Class” standards and fund leasing costs for new tenants. Park Place is situated on 30.06 acres at 200-230 Park Ave. along the Rte. 24 cor- ridor in the western part of Florham Park, a northern New Jersey township in Mor- ris County approximately 30 miles west of Manhattan. Amenities include an on-site cafeteria and fitness center, MORRISTOWN, NJ — G.S. Wilcox &Co. announced today that they have arranged financing on several properties in the amount of $26.15 mil- lion, arranged by Gretchen Wilcox , president, Al Ray- mond , principal, and David Fryer , principal of G.S. Wil- cox & Co. Financing includes several industrial/flex properties to- taling $13.2 million, which includes refinancing of an 117,340 s/f industrial/ware- house property located in Wayne, New Jersey. The loan has a 5 year term and 25 year amortization. A loan for $4 million was secured for a 26,000 s/f office building located in Warren, New Jersey. The property was 70% occupied at the time

70-seat conference center and parking for 1,405 vehicles. All four of the three-story build- ings were reconstructed from the steel frame in 2001 and are leased to Fairleigh Dickinson University, M&T Bank, Sun Bank and several of the state’s leading law firms. The HFF debt placement team representing the borrow- er was led by senior managing director Jon Mikula and as- sociate director Mike Lachs . “We were excited to be a part of the Normandy team helping to re-introduce Park Place to the market,” Mikula said. “By partnering First Niagara with Principal, we were able to pro- vide a creative, cost effective solution.” n of closing and includes a 4% fixed interest rate for the ini- tial five years and a 25 year amortization. Two borrowers financed a total of $4.6 million of ware- house space located in Secau- cus, New Jersey for a total of 125,000 s/f. Financing totaling $4.35 million was made for an in- dustrial/office/entertainment property located in Warren, NJ and a retail center located in Denville, NJ. G.S. Wilcox & Co., located in Morristown, NJ, is a full service mortgage banking firm which originates, un- derwrites, and services com- mercial real estate mortgage loans. Founded in 1994, they have been servicing clients for over 20 years. n

7200 Wisconsin Ave.

“This refinancing affords the sponsor maximum flexibility to use additional proceeds to fund tenant and capital im- provements and leasing com- missions and create additional street-level retail, including a future jewel box concept, to take advantage of its loca- tion at the center of one of the

strongest office, retail and residential enclaves in the DC metro area,” Coker said. FLORHAM PARK, NJ – HFF announced that it has secured $65.5 million in financing for Park Place, a four-building, class A office park totaling 351,684 s/f in

Procida’s 100 Mile Fund closes $86m+ in loan originations for 2014

G.S. Wilcox & Co. closes $26.15m for multiple props.

NY. - A $3 million 1st mort- gage bridge loan secured by a mixed-use property located in the Jersey City Heights sec- tion of Jersey City, NJ. - A $3.65 million 1st mort- gage bridge loan secured by a medical office facility located on a prime Rte. 17 location in Hackensack, NJ. - A $16.2 million 1st mort- gage bridge loan secured by a multifamily building known as Mural Arts Lofts located in Philadelphia, PA. The 100 Mile Fund is un- wavering from its middle- market strategy and remains focused on small and mid- sized real estate transactions often neglected by larger institutions. “This series of transactions highlights our

activity in the market as a provider of flexible financing for complex and time sensi- tive real estate transactions,” said Kyle Funsch , director of originations and principal of Procida Funding.” The 100 Mile Fund provides bridge, mezzanine, construc- tion and equity capital to the real estate industry and mid- dle market companies. Since 1995, the firm has completed over three billion dollars of transactions ranging from $500,000 to $50 million. The firm’s founder William Procida has been a promi- nent leader in the tri-state area real estate market for over 30 years, building over one billion dollars in projects and financing more than two billion dollars. n

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