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GHP Building Refinanced With $13M

PRINCETON, NJ-The funding covers 29 Thanet Circle, which owner GHP Office Realty recently filled with a 41,220-sf lease signed by Church & Dwight.

By Eric Peterson | Updated on February 22, 2007

(To read more on the debt and equity markets, click here.)

PRINCETON, NJ-GHP Office Realty has obtained a $13.32-million permanent loan that will be used to refinance its 29 Thanet Circle, a 53,000-sf office building here. The loan was placed by Gus Costaldo of Houlihan-Parnes/iCap Realty Advisors, of which GHP Office Realty is the office building division. Both are based in White Plains.

According to Costaldo, the loan consists of an interest-only, fixed rate of 5.8%, or 96 basis points over the 10-year US Treasury, with a 10-year term. The funding represents 80% of the appraised value of the building.

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