2C — March 27 - April 9, 2015 — The Best of 2014 — M id A tlantic
Real Estate Journal
The LARGEST FINANCIAL DEALS of 2014
NorthMarq Capital URL Harborside I Jersey City, NJ
HFF (New Jersey) Keystone/Mack-Cali Portfolio Tarrytown, NY/Elmsford, NY/ Morris Twp., NJ
Institution: Harborside Unit A Urban Renewal, LLC Financier: Pacific Life The building will be one of the first in the market to intro- duce an emerging concept of beautifully designed, sustain- able and space efficient units under the banner of URL (Ur- ban Ready Living). Designed to target professionals from a variety of industries who de- mand amenities over space, there will be a focus on creat- ing unique and usable common spaces such as shared work spaces with Wi-Fi throughout all common areas, a café, an outdoor pool, garden lounge area and a state-of-the-art fit- ness center. “Given the 30 month esti- mated construction period, the
555 Taxter Rd.
Institution: Keystone Property Group and Mack Cali Realty Corp. Financier: Cornerstone Real Estate Advisers, Colony Mortgage Capital, CorAmerica HFF placed the three-year, floating-rate loans in July. The portfolio consisted of: Taxter Rd. office buildings totaling 422,422 s/f; Talleyrand Office Park consisting of two 89,000 s/f office buildings and 412 Mt. Kemble Ave., comprising three in- terconnected office buildings totaling 477,843 s/f. The portfolio also included one property located in Stamford, CT – this transaction is not included in the total loan amount or property size.
borrower wanted to take out interest rate risk and requested a construction to permanent loan where the interest rate was locked at application. Pacific Life took the time to understand the market and new unit design concept and provided an attractive 15 year fixed rate loan with seven years interest only,” said Gary Cohen, senior vice president and senior director of NorthMarq’s New Jersey based regional office.
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