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CBRE Secures Fixed-Rate Mortgage

SADDLE BROOK, NJ-The ten-year $12.25-million mortgage for acquisition was arranged on behalf of the borrower Marcon Roseland LLC.

By Alyson Grala | Updated on April 08, 2009

SADDLE BROOK, NJ-CB Richard Ellis’ Capital Markets Debt & Equity group recently arranged a $12.25 million permanent fixed-rate mortgage for acquisition on behalf of the borrower Marcon Roseland LLC. This ten-year, fixed rate mortgage, which was funded by a Connecticut-based commercial bank, facilitated the acquisition of a 128,034 square foot, four-story, class A office building located at 425 Eagle Rock Ave. in Roseland. CB Richard Ellis’ James Gunning and Donna Falzarano were responsible for securing the financing.

“This was a collaborative effort of CBRE’s Capital Markets group,” Gunning says. “The Debt & Equity Finance team represented Marcon Roseland LLC, while the Tri-State Investment team represented the seller, Principal Financial Group.” He adds, “The client received an excellent rate and terms, and the lender closed expeditiously, within 30 days of the signed application.”

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