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$2.7 Mil in Financing Goes to Middlesex Asset

PISCATAWAY, NJ-Funding for this fully leased 83,200-sf office/industrial asset features a 73% LTV.

By John Salustri | Updated on April 23, 2001

PISCATAWAY, NJ-Financing to the tune of $2.7 million has been secured for a mixed-use office/industrial asset located here. The 20-year funding, closed by Bernardsville, NJ-based Larson Financial Resources, provides ownership with a 73% loan to value and is fully amortized. Berkshire Life Insurance was the lender.

The asset is situated on five acres at the local Centennial Corporate Park, which was developed in the 60s and the 70s. Located in the tight industrial market of Middlesex County, the asset is fully leased to three tenants. LFR, in addition to representing Berkshire, is also loan correspondent for Canada Life Insurance and ING. It also is a Freddie Mac Program-Plus seller and servicer.

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