F inancial D igest F eaturing A ppraisal and 1031 E xchange
M id A tlantic Real Estate Journal — September 23 - October, 20, 2022 — 7A
www.marej.com
Taylor and Falzarano place permanent loan secured by Villages at Berlin M&T Realty Capital provides $73M in financing for multifamily property in Berlin, New Jersey
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Realty Capital began market- ing the opportunity prior to final CofO. The life company
AWRENCEVILLE, NJ — John Taylor and Donna Falzara-
that funded the loan has a deep un- derstanding of the mar- ket and as- set type and were fast to sharpen their pencils
no of M&T Realty Cap- ital Corpo- ration re- cently placed a $73 million permanent loan secured by Villages at Berlin, a
Donna Falzarano
John Taylor
and offer excellent terms. The Villages at Berlin is a 472-unit luxury apartment community located on over 30-acres. Built in three phas- es, lease-up was strong and Nexus had a running wait- ing list of units to be filled. Other than the strong renter demand, other highlights of the property include a market-
newly built, 472-unit multi- family property developed by Nexus Properties of Law- renceville, NJ. M&T Bank’s Shawn Field financed the construction loan that was then refinanced with a life company. The long-term fixed rate loan offered 5 years of interest-only at a very attrac- tive fixed interest rate. M&T
Villages at Berlin
offer Nexus so many competi- tive options, guide a flawless process to closing and in- troduce an outstanding life company relationship” said Donna Falzarano. MAREJ
leading amenity package, excellent location, and easy transit access. Situated less than an hour from Philadel- phia, The Villages at Berlin is served by one of the best
highway and mass transit systems in the country. “Nexus Properties is a val- ued long-term relationship of M&T Bank and M&T Realty Capital. We were pleased to
Black Bear Capital Partners arranges $44 Million in permanent financing for Allendale Corporate Center
ALLENDALE, NJ — Black Bear Capital Part- ners (BBCP) , a real estate financial advisory firm and subsidiary of Black Bear Asset Management has ar- ranged $44 million in perma- nent financing on behalf of Allendale Corporate Center, LLC for the refinance of an in - dustrial portfolio in Allendale. The $44 million non-re- course loan, provided by Mor- gan Stanley , featured a ten year fixed-rate loan on a full- term interest-only basis at approximately 65% loan to value (LTV). The Corporate Center con- sists of six industrial buildings spanning over 389,000 s/f. Each property within the port- folio features state-of-the-art manufacturing facilities and office/flex space with modern finishes. Furthermore, the Corporate Center has a high concentration of well-estab- lished and nationally recog- nized tenants, which manufac- ture medical instrumentation and materials including: Mar- tab Medical, Bosch/Syntegon Pharma Tech, Alan Baird
Allendale Corporate Center
Industries Inc, Acuitive, and Collagen Matrix. Allendale is situated within Northwest Bergen, which is a large submarket and contains close to 20 million sf of indus- trial space. Specifically, it is a part of the Northern New Jer- sey region that has experienced increased demand for logistics space as it has easy access to New York and other large East
Coast metropolitan areas. Senior managing partner Emil DePasquale of BBCP ar- ranged the financing package. “We are pleased to place this long-term, ten-year fixed-rate loan at an attrac - tive rate on a full-term inter- est-only basis,” DePasquale said, noting that Morgan Stanley worked diligently to close the new financing
package, which replaced a $33.5 million existing CMBS loan. “BBCP was able to utilize the quality of the Al- lendale Corporate Center to achieve a highly favorable and flexible structure con - sistent with borrower’s indi- vidualized business plan. It was a tremendous execution despite a volatile market.” BBCP, which services
transactions across all prop- erty types, closed numerous complex refinance packages in excess of $750 million year- to-date despite challenging market conditions. The firm, which has offices in New Jersey and Chicago, recently opened an office in Florida and continues to expand its national platform and market penetration. MAREJ
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