6-12-15

- DC

Led by Rotchford, the team included Wenk, Elms, Todrys and Bernhaut Cushman &Wakefield arranges $650m sale-leaseback of Verizon Ops. Center B ASKING RIDGE, NJ — Cushman & Wakefield has closed

ISSUE HIGHLIGHTS Volume 27 Issue 11 June 12 - 25, 2015 Financial Digest Featuring. . . Creative Financing

structure.” Led by Rotchford, the Cush- man & Wakefield investment banking team included David Wenk, Robert Elms and Mark Todrys . They worked in conjunction with both Kuriloff and with David Bernhaut , vice chairman of the Cushman & Wakefield capital markets group in New Jersey. Cush- man & Wakefield maintains its relationship with Verizon through its Corporate Occupier and Investor Services (CIS) group. The Verizon team was led by Vazquez and included James Tousignant and Robert Haines , as well as internal Verizon counsel Steven Cohen . DLA Piper served as counsel for Verizon under the leadership of Mark Hurel . Mesirow Realty Sale-Lease- back, Inc. was led by Garry Cohen and Douglas Barker with legal representation by Goldberg Kohn . n

a sale-leaseback transaction valued at $650.3 million for the 1.4-million s/f Verizon operations center in Basking Ridge. The Cushman &Wake- field team was led by its real estate investment banking group in combination with the company’s New York broker- age and New Jersey invest- ment sales teams. Cushman &Wakefield acted as financial advisor and place- ment agent for Verizon on the transaction, which represents the largest sale-leaseback ever completed in suburban NJ. Also, the sale value repre- sents one of the highest sales prices per square foot of any suburban sale-leaseback in the United States. The facility, which employs 3,900 full-time employees, was acquired by Mesirow Realty Sale-Leaseback, Inc., a divi- sion of Mesirow Financial, a SPRINGFIELD /MOR- RISTOWN, NJ — Gebroe- Hammer Associates has represented Forest Realty in the estate sale of two separate multi-family properties sold for a combined $113.5 million in Springfield and Morristown. The firm’s brokerage teams, led by managing director Joseph

11-18A

WCRE facilitates $9.5 million sale of 53,100 s/f

Verizon operations center in Basking Ridge

diversified financial services firmheadquartered in Chicago. As part of the transaction, Verizon will lease back the en- tire facility from Mesirow for a 20-year term. The campus houses a full range of busi- nesses within Verizon Com- munications and also serves as headquarters for Verizon’s wireless unit. “This real estate deal provides

our company with immediate financial benefits and allows us to extract significant value from this asset while continuing to occupy the entirety of its office space,” said John Vazquez , senior vice president and head of global real estate for Verizon. “Cushman&Wakefield achieved our strategic objectives by maxi- mizing value and flexibility through the best possible deal

FC-B

Gebroe-Hammer arranges two separate NJ multi-family trades totaling $113.5 million

RRA sells 46 housing units for $6.4 million

FC-C

Directory

Franklin Manor; Morristown, NJ

Short Hills Village Club; Springfield, NJ

DelMarVa • DC.........................................................5-10A Pennsylvania.................................................... Section C Central PA................................................................5-7C Financial Digest....................................................11-18A New Jersey....................................................... Section B Northern New Jersey. ............................................5-12B

community located at 67A Forest Dr., on the Millburn/ Short Hills border of Spring- field. The 26-building complex is comprised of three different phases, each of which has been newly renovated or newly con- structed in the past five years. Seven laundry facilities, an on- site fitness center, swimming pool, playground, 489 parking spaces and 116 garages also are located throughout the 19.8- acre complex. The second property, located

at 114 Franklin St. in Mor- ristown, was acquired by RK Franklin LLC, for $30 million. Franklin Manor is a 140-unit garden-style apartment com- munity where free on-site park- ing is available in a 177-space lot that also houses 57 garages. In addition to the Spring- field and Morristown property trades, Brecher recently ar- ranged the sale of the lease- hold interest for Forest Glen in Highland Park, NJ on behalf of the seller’s estate. n

Brecher , also identified the buyers of Short Hills Village Club (Springfield) and Frank- lin Manor (Morristown). The sale of the properties, which were owned by Forest Realty for over 40 years, represents one of the state’s largest multi- family transactions recorded in 2015 thus far. Short Hills Village Club, which was acquired for $83.5 million by SH Club Village, LLC, is a unique 286-unit gar- den-apartment and townhome

Upcoming Spotlights June 26, 2015 Mid-Year Review

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