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A multifamily community in Raritan, New Jersey Lefkowitz of Meridian Capital Group negotiates $46 million in financing

ISSUE HIGHLIGHTS Volume 30, Issue 13 July 13 - 26, 2018

Section 7-10A TAX ISSUES & ACCOUNTING

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three-bedroom luxury units. The property underwent ex- tensive renovations in 2016. The Lena is located 40 miles south of Manhattan and easy access to the city via NJ Tran- sit at the Raritan Station and several nearby highways. There is more than five million s/f of retail within a five-mile radius of the property, includ- ing the 900,000 s/f Bridgewater Commons Mall, in addition to 16 million s/f of occupied office space within 10 miles of the property. “This property is a trophy as- set in Central New Jersey with a sterling sponsor,” said Israel Schubert , senior managing director of Meridian’s NJ of- fice. “Meridian’s team worked closely with the sponsor and the lender to customize a deal that surpassed the client’s expectations.”  tation into and out of Mexico with customs pre-clearance for faster, lower-cost service than trucks can offer. KCS’ state-of- the-art logistics network keep trains and shipments moving securely and on time through both the U.S. and Mexico. “As one of the best freight rail networks to and from Mexico, more industrial users with com- plex distribution and logistics networks are tapping North America’s impressive freight rail system to help move goods quickly and cost-efficiently to save costs in the last mile,” said Steve Pastor , VP of Global Supply Chain & Ports for NAI James E. Hanson. “As their de- mand for rail-oriented distribu- tion industrial space continues to grow, industrial development projects like the SW Interna- tional Gateway Business Park will become crucial in ensuring these lines can operate both efficiently and seamlessly and provide them with an ideal opportunity to leverage these rail networks to increase their profitability.” 

ARITAN, NJ — Me- ridian Capital Group arranged $46 million

in financing to refinance a multifamily communi ty in Raritan, NJ on behalf o f C a s t l e L a n t e r r a Properties . The f i ve - y e a r l o an , provided by a balance sheet lender, fea- tures a rate of 3.75% and one year of interest-only p a y m e n t s followed by a

HURLEY AUCTIONS CELEBRATES 25 YEARS IN BUSINESS

Barry Lefkowitz

The Lena by Castle Lanterra Properties

based in the company’s Iselin office, negotiated the financing for this transaction. “Meridian initiated the loan for the refinance when rates were beginning to rapidly in- crease, and as a result of Me- ridian’s substantial and ongo- ing relationship with lenders, we were able to lock in a 3.75%

interest rate, a phenomenal rate in today’s environment,” said Lefkowitz. Located at 100 River Park Dr., the River Park at Rari- tan, which has since been rebranded to The Lena by Castle Lanterra Properties, is a four-story, class A, commu- nity comprised of 224 one- to

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Israel Schubert

30-year amortization schedule. Meridian senior vice president, Barry Lefkowitz , who is

MAREJ EVENTS August 9, 2018

Stonemont Financial provides funding for SW Int’l. Gateway Business Park NJ’s NAI Hanson&NAI Partners celebrate ground- breaking for 540-acre, 10million s/f industrial park

Philadelphia Medical Properties Conference August 23, 2018 Delaware CRE Forecast September 20, 2018 NJ Apartment/Multifamily For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea@marejournal.com

EL CAMPO, TX — NAI James E. Hanson (NAI Han- son) , and NAI Partners , a Houston member of the NAI Global network announced that they held the official ground-breaking ceremony on June 19th for the SW Interna- tional Gateway Business Park, a 540-acre rail-served indus- trial development project in El Campo at the intersection of U.S. 59/I-69 and CR 211. Both

SW International Gateway Business Park groundbreaking ceremony

firms are the marketing agents for the site which is a spec/ build-to-suit industrial park. With development spear- headed by Ridgeline Devel- opment and owner financed by Stonemont Financial Group , the SW International Gateway Business Park will bring up to 10 million s/f of class A industrial space and hundreds of jobs to the Houston area. Other key features of the master-planned multi-modal distribution park include: • 1.375 miles (7,260’) of front- age on US 59/I- 69 • Staging area for more than

200 rail cars • Foreign Trade Zone and addi- tional local and state economic incentives • Six Texas ports within 250 miles (Beaumont, Corpus Christi, Freeport, Galveston, Houston, and Port Arthur) • Kansas City Southern Cer- tification • The ability to deliver build- to-suits within 12 months of executed lease In addition to frontage on I-69 and easy access to Texas port cities, the Kansas City Southern (KCS) railroad offers seamless cross-border transpor-

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